Jetty raises $25M to expand rental expense, insurance platform

Feb. 8, 2019

Jetty, a fintech startup focused on rental expenses, including insurance and security deposit costs, has raised $25 million in Series B funding led by Khosla Ventures.

The funding will be used to make further investments in technology and personnel, according to a press release. Keith Rabois, managing director of Khosla, will join the Jetty board of directors. Existing investors Valar Ventures and Ribbit Capital, also participated in the round of investment, which brings total funding to $40 million since launch.

"As growing metropolitan areas struggle to build enough housing supply, no financial services have helped mitigate the impact to consumers," Rabois said in the release. "Jetty is focused on improving the lease-signing experience by providing a suite of financial services from a security deposit replacement to a renters insurance product for both renters and their property managers."

Jetty has worked with a number of leading property management companies, including Lefrak, Rose Associates, LivCor, Beam Living and others, comprising about 500,000 rental units nationwide. The security deposit replacement product has helped save customers about $1,350 on move-in costs.

Topics: Financial News, Mobile Apps

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