SANTA BARBARA, Calif. and MUNICH, June 26,
2017 /PRNewswire/ -- RentTrack, the pioneer in online rent
payments and rent reporting, and the first online rent payment
company to report rental tradelines to all three major US credit
bureaus, has finalized a Series A round for international
expansion. The funding round was led by Yabeo, whose active
participation will fuel RentTrack's growth in Canada and the UK.
Rent payments are rapidly becoming the most important
non-traditional data on a consumer's credit report. RentTrack
has seen exponential growth within the US Market, and successfully
started operations in Canada at
the start of this year. RentTrack intends to become a worldwide
provider of rent reporting, allowing all renters the opportunity to
build and protect their credit rating.
"We're very excited to have Yabeo on board as an active
investor. They will be incredibly helpful as we further RentTrack's
roll out into the European markets," said Matt Briggs, Founder & CEO of RentTrack.
"Serial entrepreneur, Matt
Briggs, and his team are at the forefront of creating value
on both the residents' and the property manager's end, based on a
modern technology platform. Our investment is a logical extension
of our portfolio of uniquely positioned tech startups, and our
first step into the US market," said Gerrit
Seidel, Managing Partner of Yabeo.
RentTrack is available to property managers and directly to
renters.
About RentTrack
RentTrack® gives residents a real reason to pay rent online and
on-time. RentTrack's online payment system can report rent payments
directly to major credit bureaus to help residents build credit
history. For the first time, consumers have a new avenue to build
credit without incurring debt. RentTrack makes it easy to accept
credit cards and e-checks online while maintaining an easy
integration with the property manager's accounting software. For
more information, visit www.RentTrack.com.
About Yabeo
Yabeo focuses on early and late stage companies that are showing
growth potential and have three things in common: ideas that will
change the market, enormous potential to develop something smart
and disruptive, and a passionate management team.
Yabeo's main objective as a venture capitalist is to help and
support young companies reaching stable growth and strong market
positions. Yabeo integrates co-investors like family offices and
private investors into their investments. Yabeo is based in
Munich and focuses on innovative
AdTech, FinTech, Health Tech and Tech companies. For more
information, visit www.yabeo.de.
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SOURCE RentTrack