Rent paid in full on time. Two payments/month
rent paid in full on time. Two payments/month. Provides budgeting and credit fintech and proptech services to B2C and B2B2C relationships generating revenue from $15/month subscription fees, transaction fees, plus insurance to cover unpaid dues by customers. Customers use a mobile app or website.
Solution to rent payment stress. Mobile/web app halves rent due upfront, rest at convenience by end of month.
For B2C: renters, college students and international who need financial assistance for housing. For B2B2C: property owners
Your startup could solve rent payment stress, budgeting issues, and improve credit health for renters. It also offers property owners more reliable and on-time payments, reducing risk of income loss and enhancing financial stability in the housing market.
There are empirical studies done that report that renters are expericing such pain points
PayRente's credit system lets renters pay half their rent on time, offering flexibility to cover the remaining amount at their convenience within the same month.
Web and mobile app. System integration allows payment to property owners on behalf of renters
Renters use web/mobile app, create an account, undergo background check for creditworthiness, and enjoy flexible rent payments with a monthly fee.
customers both have peace of mind and flexibility to manage their monthly budget towards other critical needs. All thanks to the full rent payment that is provided by our services.
We estimate the market size for which our solution is designed in monetary terms as follows
Is our goal in the next 3 years
My key role is Product Manager and I'm responsible for defining product vision, strategy, goals, designing roadmaps, managing feature prioritization.
Nate is the CEO. Okurede is the Business Strategist. Ray is the CIO
Our competitors include Jetty, Flex, and PayRent. To identify additional competitors, consider researching similar services in property management or rent payment platforms within the target market area.
Our support team will address customer needs individually, outperforming competitors like Flex. By offering international students their 1st month's membership for free, we cater to a targeted demographic and resolve timely rent payment issues.
We charge a $13.99 monthly subscription and a 0.75% processing fee for repaying covered rent payments.
Transition from idea to MVP by refining concept, establishing market fit & building core features. Progress to beta-testing: gather feedback, address issues & validate product-market fit. Achieve growth while staying agile and innovative for continuous improvement.
Drive company growth by focusing on B2B2C sales, evolving products, and leveraging current cash flow. Boost marketing campaigns for increased market visibility and customer engagement.
Develop crucial product metrics to measure success: user acquisition, active users, retention rate, engagement rates (session duration/depth), churn rate; customer lifetime value & cost of acquisition. Continuously monitor and optimize for growth towards achieving unicorn startup status.
Our company incorporated in
Atlanta, GA
Main risks: low adoption, competition from established fintech/proptech firms, regulatory challenges, financial losses due to unpaid rent (insurance coverage limits), difficulty acquiring B2B2C partnerships, tech issues with app/website, potential negative impact on renter's credit.
$
$50,000
We raised investments
Nathaniel Efik and others
$
$1,000,000
Currently, we are raising investments
$
$1,000,000
Estimated pre-investment valuation of the company
