100 raises $5.2m and partners with CLEAR

100 sets a new standard in efficiency and security in the rental process with the launch of Verified Renter Network

100, a first-of-its-kind multifamily rental software platform, has announced a $5.2m pre-seed funding round and a strategic partnership with CLEAR, the secure identity company, to launch the innovative Verified Renter Network. The platform streamlines the rental application and screening processes with advanced, fraud-resistant security features. 

The rental market accounts for billions of dollars in annual transactions globally but faces fraud and debt issues. More than 93% of owners experienced fraud in the last 12 months, and 70% experienced some form of identity theft, according to a recent survey from the National Multifamily Housing Council (NMHC). Verified identity can transform the real estate sector by unlocking a more seamless, efficient, and secure application experience.

The Verified Renter Network identifies individuals who present minimal fraud and security risks to property owners and operators. It provides renters with a streamlined application and screening process, making it faster and easier to find their next home. To become a Verified Renter, individuals must undergo a background check and meet specific standards set by a consortium of real estate owners and operators. Once verified, renters benefit from a quicker process, while property owners save time and reduce costs due to the lower risk of fraud and the higher payment rates of Verified Renters.

“100 represents much-needed relief for multifamily operators burdened with record levels of fraud and debt. We are setting a new standard in the rental application and screening process, and I’m thrilled to join forces with CLEAR to do it,” said Caren Maio, co-founder and chief executive officer of 100. “By leveraging CLEAR’s networked identity solution, we are setting a new standard for efficiency and security in residential real estate. This partnership is game-changing.”

100 and CLEAR are transforming how prospective renters apply for housing by leveraging verified identities powered by CLEAR’s universal identity platform technology. Starting today, CLEAR Members can enroll in the Verified Renter Network with just a few clicks. For a limited time, CLEAR Plus Members can enroll for free.

The 100 founding team has built, operated, and scaled the leading multifamily technology companies that have come to market over the past 15 years. They have created billions of dollars in enterprise value, bringing decades of experience in multifamily marketing, lead management, and online leasing. With investment from MetaProp, Freestyle Capital, RiverPark Ventures, Contest Point, and a strategic coalition of top multifamily operators across the country, the funding will be deployed to develop and enhance the 100 offering, Verified Renter Network, and invest in new team members, an effort that is well underway.

“There is no better team to bring this much-needed solution to market and make the rental process void of friction and fraud. CLEAR’s partnership, the launch of the Verified Renter NetworkTM, and the 100 team’s experience make them unstoppable,” said Zach Aarons, general partner at MetaProp. “100 is one of those rare companies that can change the rental landscape as we know it.”

Image: 100

Robert Welbourn Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.