Qira, a fintech startup based in New York, has risen $ 8 million to rethink real estate management in Series A financing.
The round was led by the Phoenix Insurance Company, Israel’s largest institutional investor. As a result of the round, Guy Porat, head of Global Real Estate Investment, will join the board of directors of Guy Porat Qira.
Qira is the result of a merger between Rentigo and HelloRented, two startups with years of experience in the real estate industry. Rentigo is the developer of a platform for processing rentals for real estate operators, which allows it to improve the efficiency of its operations at a lower cost. On the other hand, HelloRented is behind an alternative security deposit solution that facilitates the AI-based rental process.
The startup aims to assist homeowners, property managers and renters by collecting deposits and rents, processing claims and facilitating refunds at the end of the lease, assisting at all stages of the rental process. This ensures a better experience for all involved, as Bill Staniford, CEO of Qira, Bill Staniford, facilitates interaction across the platform on this approach:
“After the e-commerce revolution, fintech is now improving the way it conducts financial transactions in the real estate market. As rental demographics change, the need for immediate solutions increases, starting with the selection of the applicant and offering solutions for immediate cash flows to the rental collection at the push of a button. Ultimately, these neighborhood solutions help build better communities that are more profitable; we see it every day. Our products help landlords and property managers reduce default rents, reduce bad debt, and increase NOI. “
Currently, Qira offers more than 500 homes and has added more than 6,000 users to its platform, and now plans to triple it by 2022. More than 59% real estate Owners have seen an increase in rent-paying over 2020, with the startup aiming to become a major player in the industry by helping to cope with the current crisis.