A proptech company that helps tenants break down their rents
payments over the month is set to expand with an $8 million funding package
from investors.
Till was designed to help prevent evictions and the practices
that lead to them. Rather than having rent universally due on the 1st, they
analyze a renter’s cash flow and break their payments up into smaller bites that
will work best for them to make their payments.
“Every year, millions of renters and families are evicted
from their homes, due in part to rent servicing strategies that have failed to
evolve to the ways people earn and spend money in the 21st century. As the
COVID-19 pandemic continues to spread across the country, mass unemployment and
other economic fallout is threatening to push those numbers even higher,” said
Till founder David Sullivan.
“At Till, our mission is to enable renters to thrive in
their homes by radically transforming rent into a positive and personalized
financial experience. We are now in
prime position to expand our platform and fully reimagine the way Americans
rent their housing.”
The $8 million funding round was led by Route 66 Ventures,
MetaProp and NextGen Venture Partners.
Already used in 170 properties with 30,000 units located
across 14 states, Till will use the
funding to continue the growth of the platform and fuel adoption by landlords
and renters across the country.
Zak Schwarzman, General Partner at MetaProp. “As the
uncertainty wrought by the COVID-19 pandemic and related economic fallout
continues with no clear end in sight, it’s more important than ever that
landlords find new, mutually beneficial, ways to work with renters to reduce
late fees, minimize evictions and foster renters’ long-term financial health.
“Till provides a perfect solution that helps solve these
challenges for both sides of the market, and we are proud to back them as they
enter the next phase of their growth.”
The company has formed partnerships with real estate owners
and property management companies, including First Communities, TM Associates,
Redwood Capital Group, ACRE, and Landmark Property Services.
