back Back

LeaseLock secures $52mn in funding to deliver InsurTech platform for enterprise real estate

By Pavithra R

February 05, 2021

  • America
  • Leaselock
Share

LeaseLock secures $52mn in funding to deliver InsurTech platform for enterprise real estate
Derek Merrill, Co-Founder and CEO of LeaseLock

LeaseLock, a leading insurtech platform for real estate has announced raising $52 mn Series B financing to expand its lease insurance product into the first AI-powered financial technology platform for enterprise real estate.

To date, LeaseLock has insured $1 bn in leases across the nation’s multifamily operators and preeminent asset owners. The investment round was led by London-based Westerly Winds and Wildcat Venture Partners, with participation from major investors that include SoftBank Ventures Asia, Vertex Ventures US, Liberty Mutual Strategic Ventures, American Family Ventures, Moderne Ventures, Strata Equity Group, Veteran Capital, and Mucker Capital.

“Security deposits are an inefficient financial instrument for all sides. Through technology, LeaseLock has intelligently solved this problem while setting the foundation for an end-to-end enterprise insurtech platform. We are excited to back the business as it continues to realize its vision,” said Karim Abdel-Ghaffar Plaza, Founding Partner of Westerly Winds.

LeaseLock leverages property management system integrations and data science to engineer a modern financial technology platform for housing operators. Key customers include Greystar, Cushman Wakefield, Avenue5 Residential, Harbor Group, LMC, RKW Residential, Goldman Sachs, ColRich, GoldCor, Olive Tree, TruAmerica, White Oak, Trinsic, and Goodman Real Estate.

“We’re a technology company at heart, fueled by data, and powered by insurance. We deploy our product directly through enterprise property software systems which drives material data and product delivery advantage. We’re doubling-down on our core deposit replacement product, while investing in new insurance lines, payment and receivables technology, and market channels,” said Derek Merrill, Co-Founder and CEO of LeaseLock.

Founded in 2016, LeaseLock is powered by insurance technology and eliminated security deposits from enterprise operating infrastructure. Its flagship lease insurance product leverages AI to eliminate security deposits from enterprise operating infrastructure powering a faster, simpler, more affordable rental transaction.

Previous Article

February 05, 2021

SEBA Bank issues Series B equity as security tokens

Read More
Next Article

February 05, 2021

Barclays and Smart Pension to offer easy access to pensions platform

Read More








IBSi Daily News Analysis

March 22, 2024

America

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Payop partners with Tink to add Pay by Bank in Europe

Read More

Today

Qoala raises $47m in Series C round from PayPal Ventures & MassMutual Ventures

Read More

March 27, 2024

InsurTech Qover partners with rewards credit card Yonder

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023