What THE SETTLE COMPANY Inc. does

THE SETTLE COMPANY Inc., operating as Settle, is a Canadian fintech that provides a 12-month rent guarantee and credit-building service targeting newcomers to Canada who lack Canadian credit history. The company serves individual renters (permanent residents, work permit holders, international students, and refugees), individual landlords, real estate agents and brokerages, property management companies, and NGOs/settlement agencies, with all operations currently confined to the Greater Toronto Area (Toronto, Mississauga, Richmond Hill, and Etobicoke). Its core product is the Settle Rent Guarantee, a written 12-month guarantee that acts as the tenant's guarantor with the landlord, coupled with RAD (Rent & Asset Data) Reporting — a proprietary system that transmits verified rent and income stability data to Equifax Canada so on-time payments build Canadian credit profiles from the renter's first lease.

Settle's technical architecture is built on an AI-assisted underwriting engine that ingests Open Banking data via Plaid BankLink and analyzes income velocity, savings patterns, and expenditure volatility rather than relying on a 6-month Canadian credit file. The platform runs a five-phase flow (Intake, Underwriting, Servicing, Resolution, Move-in) with a multilingual concierge layer, predictive analytics on tenant payment reliability, and proactive servicing that bridges gaps if a tenant misses payment. The system is PIPEDA compliant and PCI compliant with 256-bit encryption, with a direct bureau integration to Equifax Canada for monthly reporting. There is no public evidence of in-house model development, published benchmarks, or ML-specific senior hires; the AI differentiation is in the methodology applied to Open Banking signals rather than in proprietary model architecture.

The business model is two-sided and cross-subsidized. Renters pay a publicly disclosed 5% monthly premium (approximately $110/month on a $2,200 lease, or $1,320 annualized) covering the guarantee, Equifax credit reporting, and concierge support. Institutional landlord partners pay a placement fee for filling vacancies; this fee funds the Non-Profit Partner Program, which fully waives client fees for NGO-referred newcomers and supports a 7-day move-in timeline. The Graduation Program allows renters to exit the 5% premium after 12 months of on-time payments while retaining the credit history built through Settle. No funding rounds, headcount, or revenue figures have been disclosed; the company is privately held with 50+ GTA landlords, 47 active listings, and a 628+ waitlist for RAD Reporting as of the available data.

Name

THE SETTLE COMPANY Inc.

Legal name

THE SETTLE COMPANY Inc.

Website

https://getsettle.ca

Company type

Private

Operating status

Operating

Short description

Settle provides AI-assisted 12-month rent guarantees and credit-building services for newcomers to Canada in the Greater Toronto Area, using Open Banking underwriting to approve renters without Canadian credit history, while serving landlords, agents, property managers, and NGOs.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Renter Monthly Premium: 5% of monthly rent as a service fee covering guarantee, credit reporting, and concierge support. Example: $110/month for a $2,200/month lease. Annual cost of $1,320 vs $13,200+ trapped deposit.
2. Landlord Placement Fee: Institutional landlord partners pay placement fee for filling vacancies. This revenue funds the subsidized NGO partner program where client fees are waived.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Settle provides a 12-month written rent guarantee acting as a financial guarantor for newcomers to Canada who lack Canadian credit history, enabling rental approval without credit scores, co-signers, or large upfront deposits. Renters pay rent plus a 5% monthly premium while Settle guarantees monthly rent payments to landlords, reports on-time payments to Equifax Canada, and analyzes Open Banking data via AI-assisted underwriting to qualify income-capable renters the traditional credit system rejects.

Product overview

Settle is a unified platform offering a core Rent Guarantee product that serves four distinct market segments: individual renters, landlords, agents, and property managers/NGOs. The platform architecture combines the Settle Rent Guarantee (12-month written guarantee acting as renter guarantor) with two integrated modules: RAD Reporting and Active Credit Building, which report on-time rent payments to Equifax Canada to build Canadian credit history from the first lease. Additional programs include the Non-Profit Partner Program (fee-waived access for NGO-referred clients) and the Graduation Program (enabling direct landlord payment after 12 months of successful payments). The product uses AI-assisted underwriting to analyze Open Banking data rather than traditional credit scores, targeting newcomers to Canada who lack Canadian credit history but have demonstrated income and savings.

Differentiator

Problem solved

Functional benefit

Brands

• RAD Reporting: Rent & Asset Data reporting service that verifies rent and income stability through bank link integration and reports to Equifax Canada to build Canadian credit profiles.

Products and services

• Settle Rent Guarantee A 12-month written rent guarantee service that acts as a guarantor for renters lacking Canadian credit history, enabling approval without credit scores, co-signers, or large upfront deposits. Settle guarantees monthly rent payments to landlords while renters pay rent plus a 5% premium.
• RAD Reporting (Rent & Asset Data) A proprietary reporting system that verifies rent and income stability through Open Banking and transmits payment history to Equifax Canada, building 'depth of file' credit history for newcomers from their first lease.
• Active Credit Building Every on-time rent payment is reported monthly to Equifax Canada through RAD Reporting, enabling renters to build Canadian credit scores from their first month of residency.
• Non-Profit Partner Program A fully subsidized program for settlement agencies and NGOs that waives the Settle guarantee fee for referred newcomer clients. Funded by landlord placement fees rather than clients, enabling zero-fee access to guaranteed rent and credit building.
• Graduation Program After 12 months of on-time payments, renters graduate to a stronger credit profile and can transition to paying their landlord directly while retaining the credit history built through Settle.
• Portfolio Rent Guarantee A portfolio-level guarantee layer for property managers, providing 12-month rent guarantees across all buildings under management through a single master agreement, with embedded integration into existing tenant intake workflows.

Quantifiable outcome

• 88% lender visibility achieved with RAD Verified vs 0% for traditional thin-file applicants
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability6 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core.

• Registered Settlement Agencies & NGOscoreGTM or Marketing PartnerNon-Profit Partner Program where registered settlement agencies, sponsorship groups, and community NGOs refer newcomer clients who receive fully waived fees. Funded by landlord placement fees. Book strategy calls and receive dedicated referral links. 7-day move-in timeline for referred clients with Equifax credit reporting.
• Real Estate Agents & BrokeragescoreGTM or Marketing PartnerAgents refer qualified renters to Settle-guaranteed listings. Tagged referral link with status updates. 48-hour underwriting turnaround. No cost to agent or brokerage. Agent retains full commission. Single point of contact for support.
• Property Management CompaniescoreGTM or Marketing PartnerPortfolio-wide rent guarantee with one master agreement covering all buildings. 30-minute portfolio mapping session, pilot building integration, then full rollout. Monthly reporting. Plugs into existing tenant intake without system replacement.
• Individual Landlords (GTA)coreChannel Partner/ Reseller/ Distributor50+ GTA landlords in Settle's network. No fee to list properties. No fee to accept Settle-backed tenants. Landlords receive vetted, guaranteed renters with 12-month written guarantee. Keep standard lease and screening criteria.
• Equifax CanadacoreTechnology or IntegrationDirect bureau integration for RAD Reporting. Settle transmits verified rent and income stability data to Equifax Canada to build 'depth of file' that lenders require. Monthly reporting of on-time rent payments.
• Plaid BankLinkcoreTechnology or IntegrationBank-grade verification through secure account connections. Verifies income and rent without manual paperwork. PCI Compliant with 256-bit encryption for secure data handling.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• TheGuarantors: TheGuarantors is a US-based rent guarantee company that provides lease guarantor services for renters, directly comparable to Settle's core product. Both companies address the same fundamental problem: renters lacking credit history or guarantors being rejected for housing. TheGuarantors serves a similar customer with a similar solution.
• Rhino: Rhino is a US-based deposit alternative platform that allows renters to pay a small monthly fee instead of a security deposit. Similar to Settle, Rhino eliminates the upfront deposit barrier for renters and provides landlords with guaranteed rent. The business model and target customer are closely aligned.
• LeaseLock: LeaseLock is a US-based deposit alternative platform that integrates with property management software to provide deposit-free leasing at portfolio scale. Settle's Property Manager offering is comparable to LeaseLock's enterprise B2B2C motion. Both target distribution through property managers.
• Jetty: Jetty is a US-based renter deposit alternative and renter's insurance platform offering products similar to Settle: deposit alternatives, rent guarantees, and renter-facing services. Jetty was acquired by Assurant in 2022, signaling the strategic value of the space.
• Obligo: Obligo is a US-based deposit-free rental authorization platform that allows renters to forgo security deposits through a landlord-funded model. Similar to Settle, Obligo uses alternative underwriting to assess renters and provides landlords with guarantees. The product and target customer are closely aligned.
• Esusu: Esusu is a US-based rent reporting platform that reports on-time rent payments to credit bureaus to help renters build credit. Esusu's core RAD functionality is directly comparable to Settle's RAD Reporting product. Both companies serve the credit-building use case for renters.
• Nova Credit: Nova Credit is a US-based credit reporting agency that translates international credit histories for immigrants and newcomers to the US. Nova Credit's target customer (newcomers/immigrants) aligns closely with Settle's primary customer segment. Both companies address the credit access challenge for newcomers.
• Self: Self is a US-based credit-building platform that helps consumers with thin or no credit files build credit through credit-builder loans and tradeline reporting. While more general-purpose, the credit-building functionality for thin-file users is comparable to Settle's RAD Reporting product.

Broad incumbents

• Wealthsimple: Wealthsimple is a Canadian fintech offering investing, trading, and banking products. As a Canadian financial services company serving retail customers, Wealthsimple is a broad incumbent in the Canadian fintech space. It is not a direct competitor but operates in the same Canadian regulatory environment and serves overlapping customer demographics.

Emerging players

• Bungalow: Bungalow was a US-based rental platform that offered furnished co-living rentals with deposit alternatives and flexible leases. While Bungalow's primary focus was on the rental experience rather than credit building, its deposit alternative and tenant screening features overlap with Settle's offering. Bungalow was acquired by Airbnb in 2021.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about THE SETTLE COMPANY Inc.