LeaseLock Announces $1 Billion in Leases Insured as Deposits Become Extinct

MARINA DEL REY, Calif.–(BUSINESS WIRE)–LeaseLock, the world’s leading insurtech platform for real estate, today announced the acceleration of its rapid growth, surpassing the $1 billion milestone in insured lease value for residential apartment homes.

LeaseLock offers the only fully integrated solution in online leasing checkout systems that automatically ejects security deposits from multifamily operating infrastructure. The business is experiencing accelerated growth—taking 24 months to achieve $500 million in leases insured and doubling to $1 billion in only five months. This milestone comes shortly after LeaseLock announced it’s $52M Series B investment to power growth.

“Deposits are under threat and the pandemic is accelerating their demise,” said Derek Merrill, CEO and co-founder of LeaseLock. “Leading operators recognize the tectonic shift and are deploying our B2B insurtech solution to gain a competitive edge in leasing while insuring their assets against future uncertainty.”

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