Assurant backs landlord financial services platform Zibo
Assurant announced its corporate venture capital arm, Assurant Ventures , has made an undisclosed investment in Zibo , a one-stop shop financial services platform that simplifies rental property ownership for independent landlords.
Founded in 2019, Zibo’s platform solves common industry pain points with modern tools and technologies related to banking, rent collection, expense management, payments, access to competitive loans, property management services, and various insurance products (Zibo offers landlord insurance from Foremost ). Landlords can receive online rent payments, deposit paper checks, and manage all of their property bank accounts on a centralized platform. Zibo targets 8 million US independent landlords with $9B in total annualized addressable market.
“Assurant Ventures is excited to establish a new value-added partnership with Zibo to collaborate, share insights and foster innovation. Our investment reflects our commitment to funding disrupters in the PropTech space, in addition to other connected world companies that overlap with Assurant’s Connected Living, Global Automotive and Multifamily Housing lines of business.” – Assurant Chief Strategy and Risk Officer Bob Lonergan.
“Our goal is to level the playing field for independent landlords who are up against institutional investors with access to more resources. That’s why we’re excited to partner with Assurant Ventures to continue to scale the only free landlord management platform that provides best-in-class financial services and modern tools for rental property owners.” – Chris Hsu, CEO and Co-Founder of Zibo.