LeaseLock Raises $52M as Insurtech Platform for Real Estate Drives Security Deposits Extinct
February 4, 2021
PUBLISHED BY Businesswire
MARINA DEL REY, Calif.–(BUSINESS WIRE)–LeaseLock, the world’s leading insurtech platform for real estate, today announced the closing of a $52 million Series B financing that will expand its industry-leading lease insurance product into the first AI-powered financial technology platform for enterprise real estate. LeaseLock has insured $1 billion in leases to-date, across the nation’s largest multifamily operators and preeminent asset owners.
The financing round was led by London-based Westerly Winds (founding partners from BlackRock) and Wildcat Venture Partners, with major investors that include SoftBank Ventures Asia, Vertex Ventures US, Liberty Mutual Strategic Ventures, American Family Ventures, Moderne Ventures, Strata Equity Group, Veteran Capital, and Mucker Capital.
“Security deposits are an inefficient financial instrument for all sides. Through technology, LeaseLock has intelligently solved this problem while setting the foundation for an end-to-end enterprise insurtech platform. We are excited to back the business as it continues to realize its vision,” said Karim Abdel-Ghaffar Plaza, Founding Partner of Westerly Winds.
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