Findigs
Overview
Findigs is a software company specializing in digital solutions for streamlining the rental process for both landlords and tenants. Founded in 2018 and headquartered in New York City, Findigs' core offerings include tenant screening services, fraud prevention, and lease management. The company aims to make the rental process faster, safer, and more transparent. With significant investment backing, including a noteworthy $27 million Series B funding round led by Nyca Partners in March 2024, Findigs has raised a total of $48 million to date. Its founders, Steve Carroll and Keith Gilvar, have emphasized a tenant-centric approach, aiming to reform various aspects of the rental industry.
Recent Developments
Over the past two years, Findigs has made several strides and notable achievements:
- March 2024: Findigs secured $27 million in a Series B funding round. This round was led by Nyca Partners, with participation from RPM Ventures and other investors. The funds are being allocated to enhance the company's screening automation technology, expand its workforce, and bolster its data analytics capabilities. This investment reflects growing confidence in Findigs' ability to innovate and redefine rental property management.
- June 2024: The company introduced "DecisionAssist," a comprehensive decision-making tool designed to streamline the tenant vetting process. This feature uses automation and advanced data analysis to provide instant screening outcomes, reducing the average decision time from a week to less than a day.
- December 2023: Findigs reported a significant update to its fraud detection systems. Recognizing increased rental application fraud instances, the company has implemented robust measures ensuring rigorous document analysis and identity verification, crucial for maintaining the integrity of tenant applications.
- October 2023: Findigs expanded its service offering with "Greenlight," a feature facilitating seamless integration with housing vouchers systems. This move is designed to assist a broader range of applicants, enhancing accessibility and fair housing accommodation.
- May 2023: The company launched a multi-language platform to cater to non-English speaking demographics effectively, addressing a critical barrier in tenant-landlord communications.
These developments underscore Findigs’ focus on using technology to eliminate inefficiencies and risks in the rental screening process, contributing significantly to its growing market presence.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | New York City, United States |
| Founders | Steve Carroll, Keith Gilvar |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Nyca Partners, RPM Ventures |
| Industry | PropTech, Real Estate Technology |
| Number of Employees | Approximately 77 |
Early History
Findigs began its journey in 2018, founded by Steve Carroll and Keith Gilvar, in New York City. The idea arose from Carroll’s personal challenges in renting apartments in the bustling New York housing market. The company sought to address inefficiencies in tenant screenings and fraud prevention, areas often plagued by lengthy processes and manual verifications.
Initially, Findigs focused on small property managers, offering them tools to streamline tenant applications, including faster credit and background checks. By integrating directly with property management systems, Findigs helped automate many manual tasks. This initial push was crucial for gaining early traction and allowed the company to secure its first funding round, which set the stage for further development and technological enhancements.
Company Profile and Achievements
Findigs operates in the rapidly growing PropTech industry, with its primary focus on transforming the rental process for property managers and tenants. Its core engine is an innovative leasing platform featuring:
- Digital Tenant Screening: The platform enables landlords to pre-screen applicants using customized criteria, reducing the risk of problematic tenancies.
- Automated Fraud Prevention: Advanced algorithms detect fraudulent documentation and applications, ensuring only genuine applications are processed.
- Integrated Payment Solutions: Facilitation of both one-time and recurring rental payments through secure digital channels.
- Seamless Document Management: Secure storage of applications and leasing agreements, simplifying the document management process for landlords and property managers.
Current Operations and Market Position
Findigs is acclaimed for its high-tech, user-friendly tenant-screening platform. It captures about 1% of the US rental property market share, showcasing its increasing influence and potential for growth. The company’s automated DecisionAssist technology substantially enhances decision-making speed and accuracy, a key competitive advantage.
In a market teeming with startups attempting to address similar challenges, Findigs distinguishes itself through a robust fraud detection mechanism combined with comprehensive tenant documents verification. This precise focus on operational efficiency and security offers a noteworthy edge over competitors, including Snappt and Naborly.
Conclusion
Findigs represents a pivotal evolution in the rental technology landscape. By emphasizing automation and security through cutting-edge technological solutions, it has established itself as a significant player among property managers seeking efficient tenant screening processes. Despite market uncertainties, Findigs’ commitment to innovation and user-centric design positions it well for sustained growth and expansion in the PropTech industry. As it scales operational capabilities, it is set to redefine industry standards, making renting a seamless, fair, and efficient experience for landlords and tenants alike.