New York based cash-back-for-renters platform raised $12m in Series A funding led by RET Ventures.
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Stake raises $12m in Series A funding
“For the first 18 months of Stake we were testing different solutions in New York. I showed hundreds of apartments as a broker, running up and down stairs in hot August weather,” said Hobbs. After showing prospective renters different solutions similar to reward points models, it wasn’t until one frustrated and angry renter looked at Hobbs and said, “It's the money, Stupid.” that led Stake to pivot to a cash back model.
