How Much Did Jetty Raise? Funding & Key Investors

Jetty has successfully navigated five funding rounds, attracting investment from 27 investors, including notable names like Citi and CE Innovation Capital. The company offers innovative financial products designed to make renting more affordable for tenants and more profitable for property managers.

Keep reading to explore the intricacies of Jetty's fundraising journey and the investors backing this forward-thinking platform.

What Is Jetty?

Jetty, based in New York, is a financial services company specializing in real estate. The company offers innovative products like security deposit replacements, renters insurance, and credit-building services, aimed at making renting more affordable for tenants and more profitable for property managers.

Operating in industries such as consumer software, financial services, fintech, insurance, property insurance, and proptech, Jetty has a workforce of 101-250 employees. The company has been acquired by Rhino and continues to serve over two million rental units across the country.

How Much Funding Has Jetty Raised?

1. Convertible Note
   • Amount Raised: USD 23,000,000
   • Date: September 2021
   • Lead Investors: Citi, Flourish Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support Jetty’s mission to provide renters with more payment flexibility and to expand its product offerings.
2. Series B
   • Amount Raised: USD 51,000,000
   • Date: July 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To fuel growth and expand market reach.
3. Series B
   • Amount Raised: USD 31,800,000
   • Date: January 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance product development and scale operations.
4. Series A
   • Amount Raised: USD 11,500,000
   • Date: July 2017
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth and expand the team.
5. Seed
   • Amount Raised: USD 4,000,000
   • Date: January 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To launch the company and develop initial products.

Total Amount Raised: USD 120,300,000. Current Valuation: Not publicly disclosed.

Key Investors

• Citi
  • Details: Citi is a leading global bank with approximately 200 million customer accounts and operations in more than 160 countries and jurisdictions.
  • Investment Focus Areas: Financial services, technology, real estate
  • Notable Investments: Not publicly disclosed
• Flourish Ventures
  • Details: Flourish Ventures is a global venture capital firm investing in entrepreneurs whose innovations help people achieve financial health and prosperity.
  • Investment Focus Areas: Fintech, financial inclusion, digital banking
  • Notable Investments: Not publicly disclosed
• Credit Ease
  • Details: Credit Ease is a Chinese fintech conglomerate specializing in inclusive finance and wealth management.
  • Investment Focus Areas: Inclusive finance, wealth management, fintech
  • Notable Investments: Not publicly disclosed
• K5
  • Details: K5 is a venture capital firm that invests in early-stage technology companies.
  • Investment Focus Areas: Early-stage technology companies
  • Notable Investments: Not publicly disclosed
• Farmers Insurance Group
  • Details: Farmers Insurance Group is an American insurer group of automobiles, homes, and small businesses.
  • Investment Focus Areas: Insurance, risk management, financial services
  • Notable Investments: Not publicly disclosed

What's Next for Jetty?

Jetty stands at the cusp of significant growth, driven by its innovative financial products that cater to a market where over 70% of Americans live paycheck to paycheck. With agreements covering over 2.2 million rental units, the company is well-positioned to capitalize on the increasing demand for flexible rent payments, renters insurance, and security deposit replacements. This expansive market offers Jetty a substantial opportunity to enhance financial security for renters while providing value to property managers.

Future fundraising opportunities appear promising as Jetty continues to demonstrate growth and success in the rental market. The company could attract additional investment to further expand its product offerings and market reach. However, challenges such as ensuring timely repayment from renters and competing with other fintech and proptech companies remain. Managing these risks effectively will be crucial for Jetty's sustained growth and potential future acquisitions.

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