RentTrack Closes Series A Round for International Expansion with Yabeo
SANTA BARBARA, Calif. and MUNICH, June 26, 2017 /PRNewswire/ -- RentTrack, the pioneer in online rent payments and rent reporting, and the first online rent payment company to report rental tradelines to all three major US credit bureaus, has finalized a Series A round for international expansion. The funding round was led by Yabeo, whose active participation will fuel RentTrack's growth in Canada and the UK.
Rent payments are rapidly becoming the most important non-traditional data on a consumer's credit report. RentTrack has seen exponential growth within the US Market, and successfully started operations in Canada at the start of this year. RentTrack intends to become a worldwide provider of rent reporting, allowing all renters the opportunity to build and protect their credit rating.
"We're very excited to have Yabeo on board as an active investor. They will be incredibly helpful as we further RentTrack's roll out into the European markets," said Matt Briggs, Founder & CEO of RentTrack.
"Serial entrepreneur, Matt Briggs, and his team are at the forefront of creating value on both the residents' and the property manager's end, based on a modern technology platform. Our investment is a logical extension of our portfolio of uniquely positioned tech startups, and our first step into the US market," said Gerrit Seidel, Managing Partner of Yabeo.
RentTrack is available to property managers and directly to renters.
About RentTrack
RentTrack® gives residents a real reason to pay rent online and on-time. RentTrack's online payment system can report rent payments directly to major credit bureaus to help residents build credit history. For the first time, consumers have a new avenue to build credit without incurring debt. RentTrack makes it easy to accept credit cards and e-checks online while maintaining an easy integration with the property manager's accounting software. For more information, visit www.RentTrack.com.
About Yabeo
Yabeo focuses on early and late stage companies that are showing growth potential and have three things in common: ideas that will change the market, enormous potential to develop something smart and disruptive, and a passionate management team.
Yabeo's main objective as a venture capitalist is to help and support young companies reaching stable growth and strong market positions. Yabeo integrates co-investors like family offices and private investors into their investments. Yabeo is based in Munich and focuses on innovative AdTech, FinTech, Health Tech and Tech companies. For more information, visit www.yabeo.de.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/renttrack-closes-series-a-round-for-international-expansion-with-yabeo-300479607.html
SOURCE RentTrack
