MUFG Innovation Partners completes investment in Obligo.
MUFG Innovation Partners invested in Obligo, the fintech company that builds trust between renters and landlords in the United States
Nov 5, 2021 – MUFG Innovation Partners Co., Ltd. (MUIP), a corporate venture capital fund and a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG), the leading global financial group of Japan, recently invested in Obligo – the fintech company that builds trust and streamlines the transaction process between renters and landlords in the United States.
Obligo’s platform uses Open Banking data and AI to determine a renter’s eligibility to rent deposit-free. Renters then proceed to make their move-in payments online, including a traditional security deposit if needed. At move-out, Obligo handles any end-of-lease deductions, refunding of deposits and billing the renter for any open charges. Obligo’s holistic product suite powers a trusted and streamlined rental experience.
The company has partnered with over 100 U.S. based property owners. Landlords and property managers use Obligo to simplify their move-in process, comply with the ever-changing regulatory landscape, and make their listings more appealing to renters.
The new funding will be used to expand its product suite, grow market share and bring industry-changing rental solutions to millions of homes across the United States. Through the investment, MUIP would support Obligo’s business growth and international expansion, and strategic partnership with MUFG.
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with around 3,000 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to ““Committed to empowering a brighter future.” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english
Obligo harnesses financial technology to build trust between renters and landlords, making the rental process as simple as checking in and out of a hotel. In 2018, brothers Roey and Omri Dor founded Obligo as a holistic product suite to streamline rental owners operations, boost their bottom line, power a superior rental experience and comply with ever-changing regulations.
Obligo’s solution suite today includes free certified electronic move-in payments, a flexible credit-backed deposit alternative, and automated electronic deposit refunds, complemented by powerful integrations with industry leading software. For more information, visit https://myobligo.com.