New York based rental lease guarantee provider TheGuarantors has raised a $11.7m Series A led by White Star Capital and Alven Capital.
What market you are targeting and how big is it? We’re targeting several segments of the U.S. property and casualty insurance and surety markets, which in aggregate total over $100 billion. Our business lines currently under development have an addressable market of $20 billion. What’s your business model? For our Lease Guarantee, the tenant pays a fee of 5-10% of the total rent for the term of the lease. The guarantee is backed by The Hanover Insurance Group, a Worcester-MA insurance company with $14 billion dollars in assets.