Obligo

What Obligo does

Obligo is a U.S.-based fintech founded in 2018 by brothers Roey Dor and Omri Dor that replaces traditional cash security deposits with credit-backed payment authorizations for residential renters. Its platform screens renter eligibility using Open Banking account data sourced via Plaid, then issues billing authorizations backed by bank-issued Letters of Credit from Wells Fargo and HSBC rather than surety bonds or peer-to-peer insurance. Obligo serves two primary segments: residential renters seeking lower move-in costs and a more transparent move-out process, and property managers and owners seeking faster leasing and reduced administrative overhead. The company reports it is trusted in over 1 million U.S. homes and works with more than 100 property owners and managers including Beam Living (StuyTown), Common Living, Aimco, AIR Communities, Olshan Properties, and Stevens Realty.

The product surface centers on the Billing Authorization Service and Online Move-In Service, with renters choosing between No Deposit, Reduced Deposit, Installments, or a Full Deposit option that earns up to 2% APY on secured funds. The platform supports the full move-in-to-move-out workflow including digital ACH payments, refunds and collection automation, with Stripe and Dwolla handling underlying payment rails. In June 2026, Obligo launched the Deposit Agent, which the company describes as the first autonomous AI agent purpose-built for lease security and deposit administration, exposed via MCP protocol and Obligo's public API. The agent initiates proactive workflows to set requirements, process charges and refunds, manage compliance, and prevent disputes. An embedded end-to-end deposit management solution launched in October 2025 extends Obligo beyond deposit alternatives into full outsourced deposit administration.

Obligo distributes through deep integrations with every major U.S. property management software platform — Yardi's RentCafe Living, RealPage's OneSite and LOFT, AppFolio, Buildium, Entrata, and MRI — alongside direct enterprise sales to large portfolio operators and a lean inside-sales team that the company reports achieves 2.4X output per sales and marketing rep by property management companies and 4.2X per rep by units. The company monetizes primarily through a non-refundable monthly service fee personalized by renter financial profile and security requirement amount, typically paid upfront for the first lease year, with payment of the fee allocable to renter, property, or shared between them. Obligo has raised over $50 million across a $15.5 million Series A in December 2020 led by 83North with 10D, Entrée Capital and Viola Credit, and a $35 million Series B in 2021.

Name

Obligo

Legal name

Obligo Inc.

Website

https://obligo.com

Company type

Private

Founded year

2018

Operating status

Operating

Short description

Obligo is a U.S. fintech that replaces residential cash security deposits with credit-backed payment authorizations verified through Open Banking. It serves over 100 property management operators and more than 1 million U.S. homes via deep integrations with major PMS platforms.

Ownership category

akta.pro rank

Product category

Rental Deposit Management Software

NAICS

Depository Credit Intermediation (5221)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

akta.pro secondary industry

Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK)

Keywords

• Security deposit alternatives
• Deposit-free renting
• Property management software
• Rental fintech platform
• Open banking deposits

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Service Fee (Billing Authorization): Obligo charges a personalized non-refundable service fee for renters who opt for deposit-free or reduced deposit options. The fee is typically priced monthly and paid upfront for the first year of the lease. The fee is customized based on the security requirement and the renter's individual financial profile. For no deposit and reduced deposit plans, non-refundable fees apply. Property managers can choose to absorb the fee, pass it to renters, or share the cost.
2. Full Deposit Management Fee: Obligo offers a full deposit option where renters can pay a traditional refundable deposit electronically through Obligo's platform. Even this option earns up to 2% APY interest on funds held by Obligo. This generates processing fees and provides an entry point for future upselling to deposit-free options.
3. Full Deposit Management (Premium Tier): Comprehensive deposit management service for properties including no deposit, reduced deposit, installment options, and full deposit management with electronic refunds. Property protection backed by bank-issued Letters of Credit through Wells Fargo and HSBC.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Obligo operates a deposit alternative platform that allows renters to move into homes without paying a full cash security deposit, using open banking and AI-based qualification to assess renters' financial profiles. The platform integrates with major property management systems and offers billing authorization services that replace traditional refundable deposits with flexible deposit plans (no deposit, reduced deposit, or installments).

Product overview

Obligo is a deposit-free renting platform that replaces traditional cash security deposits with payment method authorization. The platform operates as a unified system with the core Billing Authorization Service and Online Move-In Service as primary products, supplemented by multiple deposit options (No Deposit, Reduced Deposit, Installment Plans, Full Deposit Management), the AI-powered Deposit Agent for automated deposit administration, and supporting tools like the ROI Calculator and Lease Renewal Incentive Program. The platform integrates directly with major property management systems (RealPage, Yardi, AppFolio, Entrata, Buildium, MRI) enabling embedded workflows within existing property management software.

Differentiator

Problem solved

Functional benefit

Products and services

• Billing Authorization Service

Quantifiable outcome

• Reduce leasing timelines by up to 4 days
• +6 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability6 records

Feature6 records

Partnerships

Twelve partnerships are on record, tiered core and strategic.

• RealPagecoreTechnology or Integration · 7 July 2026Partnership with leading global property management software provider. RealPage customers can access Obligo's deposit solutions directly within their RealPage account (OneSite and LOFT). Property managers reduce leasing timelines by up to 4 days and save 3.5 hours in administrative work per unit. Fully embedded integration without leaving the RealPage account.
• AppFoliocoreTechnology or Integration · 1 July 2025Integration with AppFolio to launch flexible deposit alternatives tailored to meet the needs of today's renters. Enables property managers using AppFolio to offer deposit-free options within their existing workflow.
• YardicoreTechnology or IntegrationEmbedded integration with Yardi's RentCafe Living platform. Residents see deposit options within the existing Yardi leasing experience. Property teams see familiar ledger entries and workflow. Strategic partnership announced to launch embedded security deposit alternative.
• BuildiumcoreTechnology or IntegrationIntegration with Buildium property management software. Property managers can access Obligo's deposit solutions within the Buildium platform.
• EntratacoreTechnology or IntegrationIntegration with Entrata PMS. Property managers can offer Obligo's deposit-free options through the Entrata platform.
• MRI SoftwarecoreTechnology or IntegrationIntegration with MRI property management software. MRI customers can access Obligo's deposit solutions.
• Wells FargocoreOthersBank-issued Letters of Credit through Wells Fargo provide the financial backing for Obligo's deposit alternative. This distinguishes Obligo from peer-to-peer insurance or surety bonds, providing stronger property protection that matters when collecting on claims.
• HSBCcoreOthersBank-issued Letters of Credit through HSBC provide additional financial backing for Obligo's deposit alternative, complementing Wells Fargo coverage.
• PlaidcoreTechnology or IntegrationOpen Banking services through Plaid enable Obligo to verify renter bank accounts and access financial data for AI-based qualification. Obligo users who connect bank accounts with Plaid onboard twice as fast and have three times fewer unsuccessful payments.
• StripecoreTechnology or IntegrationStripe provides payment processing services for tenants through the Obligo platform. Subject to Stripe Connected Account Agreement.
• DwollacoreTechnology or IntegrationDwolla provides payment functionality for the Obligo application, handling ACH transfers and fund management. Dwolla account notifications are sent through Obligo.
• BNY Mellon (Ascent Program)strategicStrategic or Co-development PartnerCollaboration through BNY Mellon's Ascent Program to digitize the rental experience for property managers. BNY Mellon is one of the largest global banks providing financial services infrastructure.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Assurant: Assurant is a large insurance and protection-products provider with renters insurance and deposit-alternative offerings. It competes in adjacent product categories (insurance-backed deposit alternatives) and serves overlapping property manager customers, making it a broader incumbent competitor.
• RealPage: RealPage is one of the largest U.S. property management software platforms and a key PMS distribution partner for Obligo. As a broad incumbent in multifamily software with deep customer relationships, RealPage could potentially build or acquire deposit-alternative functionality that competes with Obligo.
• Yardi: Yardi is a major U.S. property management software platform and another core PMS distribution partner for Obligo via its RentCafe Living product. As a broad incumbent serving similar property manager customers, it represents both a critical channel and a potential competitive threat.
• AppFolio: AppFolio is a leading cloud-based property management software platform and a recent PMS integration partner for Obligo. It serves the same mid-market and enterprise property manager segments and represents both a distribution channel and a potential build-versus-buy threat.

Emerging players

• Snappt: Snappt provides AI-powered document and income verification, fraud detection, and applicant screening for property managers. It is an adjacent proptech player serving the same property manager buyers as Obligo but focuses on applicant vetting rather than deposit replacement.

Others

• Stripe: Stripe provides the payment processing backbone for Obligo's platform, handling ACH, refunds, and billing authorizations. As enabling infrastructure, Stripe is not a competitor but a critical dependency for Obligo's digital payment flows and move-in/move-out experience.
• Plaid: Plaid provides the Open Banking infrastructure that Obligo uses to verify renter bank accounts and access financial data for AI-based underwriting. While not a competitor, Plaid is an enabling technology layer whose pricing, API changes, or competitive moves directly affect Obligo's cost structure and product.

Direct peers

• Rhino: Rhino provides security deposit insurance and alternatives to renters and property managers. Like Obligo, it competes to replace traditional cash security deposits in the U.S. rental market and serves overlapping property manager and renter segments, making it a direct competitor.
• Jetty: Jetty offers deposit alternatives and renters insurance products aimed at renters and property managers in U.S. multifamily housing. Its deposit-replacement product competes directly with Obligo's Billing Authorization Service, though Jetty leans on insurance-backed structures rather than bank-issued Letters of Credit.
• TheGuarantors: TheGuarantors provides lease guaranty bonds and security deposit alternatives to renters and property managers across the U.S. multifamily market. It is a direct competitor to Obligo in replacing traditional cash security deposits with alternative credit-backed products for similar renter and operator customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/obligo

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

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 Obligo