100 Announces a £2.38M funding round & Partnership with CLEAR to Launch Verified Renter Network
100, a groundbreaking multifamily rental software platform, has secured a $5.2 million pre-seed funding round and announced a strategic partnership with CLEAR, the secure identity company, to introduce the Verified Renter NetworkTM. This innovative platform is set to streamline rental application and screening processes by incorporating advanced, fraud-resistant security features.
The global rental market, valued at billions annually, faces persistent issues of fraud and debt. According to a recent survey by the National Multifamily Housing Council (NMHC), over 93% of property owners reported experiencing fraud in the last 12 months, and 70% encountered identity theft. The Verified Renter NetworkTM aims to address these concerns by offering a secure, efficient, and seamless application process.
The platform identifies renters who pose minimal fraud risks, enabling property owners and operators to save time and reduce costs. Renters, in turn, benefit from a quicker, smoother application process. To join the Verified Renter NetworkTM, individuals must undergo background checks and meet standards set by a consortium of real estate owners and operators.
“100 provides much-needed relief for multifamily operators grappling with unprecedented levels of fraud and debt,” said Caren Maio, Co-Founder and CEO of 100. “Partnering with CLEAR allows us to set a new standard for efficiency and security in the rental market, and this collaboration is truly transformative.” (Picture Vishal Patel & Caren Maio).
CLEAR Members can now enrol in the Verified Renter NetworkTM with ease, and for a limited time, can access the service free of charge. The 100 team, which includes veterans in multifamily technology, has been instrumental in developing leading solutions in the industry over the past 15 years, creating billions in enterprise value.
The $5.2 million funding round, led by MetaProp, Freestyle Capital, RiverPark Ventures, and other strategic investors, will support further development of the Verified Renter NetworkTM and expand the 100 team.
“The combination of CLEAR’s technology and the 100 team’s experience makes this an unbeatable solution,” said Zach Aarons, General Partner at MetaProp. “This platform has the potential to change the rental landscape.”
CLEAR is committed to creating frictionless, secure experiences. With over 25 million members, its identity platform simplifies everyday activities, from travel to online interactions, while maintaining the highest standards of privacy.
The Verified Renter NetworkTM is rolling out nationwide, and multifamily owners and operators can learn more by visiting get100.com. It is revolutionizing the multifamily rental market by eliminating fraud and friction in the application and screening process. Backed by leading operators in the real estate industry, it offers advanced identity verification and fraud prevention technology.
Andrew Stanton Founder & Editor of 'PROPTECH-X' where his insights, connections, analysis and commentary on proptech and real estate are based on writing 1.3M words annually. Plus meeting 1,000 Proptech founders, critiquing 400 decks and having had 130 clients as CEO of 'PROPTECH-PR', a consultancy for Proptech founders seeking growth and exit strategies. He also acts as an advisory for major global real estate companies on sales, acquisitions, market positioning & operations. With 100K followers & readers, he is the 'Proptech Realestate Influencer.'
