Naborly and RentMoola Announce Partnership

June 7, 2017
press@naborly.com

San Francisco, CA: June 7, 2017 – RentMoola – Canada’s leading rental payment platform and Naborly Inc. – one of 2017’s fastest growing Artificial Intelligence startups, announced a multi-year API and data partnership. The deal which has been in progress since early 2016 and finalized in Q4 last year, had Naborly developing a custom API integration for RentMoola in order to allow the payments platform to use Naborly’s AI powered Tenant Screening and alternative Credit Scoring infrastructure.

Naborly, which is focusing on making credit reporting and scoring more fair for tenants and more accurate for landlords, offers API partners like RentMoola a plug-and-play credit data system that manages credit, customer data, and Fair Housing compliance, as well as high grade data security infrastructure. The API will allow RentMoola to continue their transition to a property management platform while maintaining focus on the businesses core competency coordinating rental payments and tenant rewards.

“When you look at the most successful tech companies you realize that focus and playing to your strengths is a critical factor for success. Our partnership with Naborly is a testament to both our company’s ability to see the value that comes from working with others in order to maintain that focus,” commented RentMoola Co-Founder and COO, Philipp Postrohovsky. “Naborly’s technology is the clear leader in next gen tenant screening.”

For Naborly, their API has become an increasing part of their growth strategy as it allows the company to distribute their services through other RentTech software like RentMoola. This goes to support the company’s long-term goal of disrupting traditional credit reporting and scoring for the rental industry. As well as the focused side of the company which allows renters to build their profile or “Renter’s Resume” on Naborly, which streamlines future rental applications on platforms like RentMoola, improves their ability to prove their rental history, and with Naborly’s credit bureau partnerships, allows tenants to build credit by paying their rent.

Outside of the growth of their API, Naborly’s Founder and CEO, Dylan Lenz attributes the rapid growth since the initial launch in 2016 to foundational problems in North America’s credit system and rental economy.

“Eight percent of American’s are unbanked. Rent increases are outpacing income growth across the US and Canada. Evictions and bankruptcies are up across America for a number of reasons more sinister than the tenant being at fault,” said Lenz. “Meanwhile credit scores for millennials and new immigrants, which are some of the largest segment of renters, are superficially low because of static methods of collecting credit data in concert with drastic changes in consumer behavior, market conditions, and limited financial history. Not because of bad intentions or bad decisions.”

This partnership between RentMoola and Naborly furthers both companies’ commitment to a real solution for the rental and credit problems in North America.

“At Naborly we believe that tenants are more than a Credit Score or a snap shot of their past finances, but for many landlords that’s sacrilege. The idea that calling references, pulling credit, and making a gut decision, is more often wrong than not; but that’s hard for many landlords to swallow. Then we show them the data and the results of our method it becomes undeniable,” explains Naborly’s VP of Product, Zed Robinson.

On traditional credit and tenant screening Lenz explains, “There are so many other factors that go into a successful tenancy, but the incumbents like TransUnion and Experian, have continued treating unique risk analysis problems as nails for their hammer-like solutions. By developing a focused Artificial Intelligence we’ve been able to assess the nuance around each tenant’s unique application and improve the accuracy of risk analysis beyond the traditional credit approach. And both the tenants and the landlords appreciate it.”

Both companies were amongst Canada’s fastest growing startups in 2016, and are still aggressively hiring to accommodate their respective growth. Toronto based Naborly, is hiring engineers in Toronto, but has added shared offices in San Francisco, Berlin, and are currently in the process of opening sales and support divisions in both Texas and British Columbia.

 

About Naborly

Naborly is a technology company that focuses on automated risk analysis for the real estate industry to help landlords and property managers know who they’re renting to, before they move in.

Through the Naborly app, tenants create a digital rental application or “Renter’s Resume” where the tenant can securely provide their information, save, edit, update, and send the application to potential landlords without worrying about private information sitting in unsecured emails. Additionally, the Naborly tenant database system (open_DOOR) allows the tenant’s past landlords the opportunity to provide referrals or to report evictions, property damage, and missed payments.

After the tenant submits the application, Naborly’s AI system (SHERLY) is able to verify the identity, employment, and income of the applicant, as well as conduct a credit check and optional criminal record check. SHERLY then analyzes the applicant’s unique characteristics and finances against the attributes of the rental property, the neighbourhood, and the overall economic and market conditions to determine what risk an applicant may pose to the landlord.

Naborly’s analysis approach has proven to be disruptive to the traditional credit scoring and risk analysis industry due to their ability to screening more accurately and generate equitable scores for groups that have been traditionally disadvantaged in the old credit system such as recent graduates, immigrants, and low-income renters.

Since their launch in early 2016 Naborly has become a dominant player in the North American tenant screening industry and has dozens of API partnerships with industry leading property management software companies and startups. The company has grown to have relationships with thousands of landlords and property management firms allowing them to serve over 647,000 rental properties in North America.

For more information, visit: https://www.naborly.com

About RentMoola

RentMoola, one of North America’s leading fintech companies, is changing the landscape of paying rent all over the world. Solving the age-old problem that paying and collecting rent is a major hassle, RentMoola is an online global payment network that allows tenants and owners to pay rent and other payments by credit card, debit card, RM Direct Debit™ or RM Cash™ while earning rewards. Members have access to our MoolaPerks™ program that provides exclusive deals to travel, lifestyle, home services and other rewards redeemable across North America, UK and Europe.

 

 

Press Contact:
Naborly
Kelsey Andersen
Marketing
1-844-622-6759 Ext. 401
press@naborly.com

RentMoola
Philipp Postrehovsky
COO & Co-Founder
1-604-657-2775
philipp@rentmoola.com