NestEgg, a U.S.-based residential rental property management startup, announced on Wednesday not only did it raise $7 million through its Series A investment round, but it also is planning to launch an interest-free payment service.
Founded in 2017, NestEgg describes itself as an all-in-one platform that makes on-demand residential property management a reality for the 12M small independent landlords in the U.S.The platform notably helps landlords automate all of their property management tasks in the following ways:
- Fully automating rent collection with unprecedented income guarantees that protect against late and missed payments
- Streamlining maintenance coordination and resolution with 24/7 support
- Simplifying administrative tasks including leasing, payments, and insurance renewals
- Financial services that boost cash flow for landlords and offer rent payment flexibility for renters
Eachan Fletcher, CEO & Co-Founder of NestEgg, also stated:
“With more financial pressure on landlords and tenants as a result of the current economic climate, it’s more important than ever for landlords to have access to tools that deliver strong cash flows. As small independent landlords ourselves, my co founders and I have built a platform that makes the income reliable and the management easy.”
The investment round was led by Hyde Park Venture Partners with participation from Bonfire Ventures, BAM Ventures, Financial Venture Studios, Dreamit Ventures, and Hyde Park Angels. The funds will aid in the launch of NestEgg’s payment product for landlords called NestEgg Pay. Ira Weiss, Partner at Hyde Park Venture Partners, added:
“The founders of NestEgg have a compelling vision to make owning residential rental property as easy as owning stock and bonds. This team spent years building tech products at Expedia, and are bringing the same creativity to the DIY landlord market. We are excited to be a part of NestEgg’s journey in bringing financial security and freedom to smaller, independent landlords across the nation.”
