New York based rental insuretech startup has raised $15m in Series B capital from Global Founders Capital.
The company is also making a foray into the commercial market with Securiti, a program that allows office tenants to replace their security deposit for an annual fee while offering landlords insurance. Insurer giant Chubb is backing the policies. The program, the company argues, allows tenants to free up cash. “Security deposits are often a point of friction in lease negotiations,” Tal Kerret, president of Silverstein Properties, said in the statement. TheGuarantors estimates that more than $150 billion of applicable security deposits are tied up in commercial leases in the U.S.