Vero Leasing lands $3.2 mln seed

Vero Leasing, a provider of residential leasing technology, has raised $3.2 million in seed funding.

Vero Leasing, a provider of residential leasing technology, has raised $3.2 million in seed funding. The investors include Builders VC, Bienville Capital, and Cogito Ventures. In addition to the funding, Vero Leasing has named Joe Ben Zvi as chief operating officer.

PRESS RELEASE

NEW YORK, NY (Jan. 22, 2019) — Vero Leasing, a financial technology solution that enables owner-operators and renters to complete the residential leasing process with unprecedented speed and ease, today announced that it has closed its seed funding round with a total of $3.2 million. Additionally, the company has named real estate industry veteran and Vero Co-founder Joe Ben-Zvi as chief operating officer.

Led by a group of respected venture capital firms including Builders VC, Bienville Capital, and Cogito Ventures, the seed funding round enables Vero to expand its diverse team of engineers, designers and real estate experts, who are combining operational real estate expertise with next-generation technology to launch a platform that increases income and reduces instances of fraud for landlords while bringing transparency and peace of mind to renters.

Ben-Zvi, who previously served as chief operating officer at TheGuarantors and chief revenue officer at Nestio, will work together with Vero CEO and Co-founder Louis Baugier to usher the company’s end-to-end automated leasing solution to market.

“Joe’s track record at TheGuarantors and Nestio speaks for itself, and he is the right executive to spearhead Vero’s rapid growth,” Baugier said. “As we scale, a critical component of our success consists of integrating and partnering with property management platforms and other best-in-class asset management solutions. Together, Joe and I will execute on our vision and mission of removing needless friction from the leasing experience — from application to lease signing — and increase net operating income and lower operating costs for owner/operators.”

Ben-Zvi began his real estate career in 1999, working for a decade to master every facet of brick-and-mortar real estate before spending the next decade focused on software and technical product development within the industry. These products included optech and fintech SaaS platforms powering marketing automation; customer relationship management platforms for owners, operators and leasing teams; automated leasing solutions and tenant screening tools; and insurance-based risk mitigation services.

“The real estate industry is misunderstood in that technology providers believe owner/operators are resistant to technology,” Ben-Zvi said. “The truth is that leaders in the multi-family space seek proptech solutions that pinpoint and eliminate burdensome and unnecessary manual processes completely and efficiently. Our smart and passionate team understands that, and we’re working hard every day to perfect the solution that solves one of the biggest pain points among multifamily owner-operators.”

Ben-Zvi added: “Our product is a game-changer, it hits the mark with the leasing experience for the renter by making it transparent, efficient and easy. Our solution also provides equal opportunity for all qualified renters to secure their dream apartments in competitive markets.”

Since its founding in 2018, Vero has worked to modernize leasing operations for property managers and owners by eliminating the need for insecure and fraud-prone paper applications and manual document transfers. Vero’s platform has been adopted by multifamily real estate leaders, including Stonehenge, Property Markets Group, Black Spruce, MNS and high grossing teams at Douglas Elliman, Halstead, and Compass.

About Vero Leasing
Vero Leasing is a financial technology solution for residential real estate that streamlines the leasing process for managers, landlords and brokers, as well as renters. Vero combines layered identity verification, digital confirmation of income and assets, and mobile leasing in a seamless, secure experience. For more information, visit www.sayvero.com.