Financial platform for landlords raises $4.5 million
California-based Zibo announced an investment by real estate venture capital firm Camber Creek, bringing its total funding to $15 million. Other investors in the startup include Canaan Partners, Khosla Ventures, QED Investors, and SVB Capital.
“We invest in technology that’s purpose-built for the real estate industry, and Zibo is exactly that. We’re impressed by their expertise and momentum, and believe their powerful financial services platform will transform the way real estate investors manage their business.” – Jeffrey Berman, General Partner at Camber Creek.
Founded in 2019, the team of 30 led by Chris Hsu offers banking, payments and insurance (via Zibo Insurance Services) for landlords. “We provide modern, secure solutions for financial services – including banking, rent collection, expense management, bill pay, and access to competitive loans and insurance – at no cost to landlords.”
One insurance partner is Foremost, the Farmers-owned insurer headquartered in Grand Rapids, Michigan that specializes in insuring specialty products such as mobile homes, motor homes, travel trailers, and specialty dwellings.
“While this milestone is exciting for our company, what’s more exciting is that fact that it proves landlords and renters trust Zibo as a secure, modern way to manage their finances. By offering a free platform designed for all of their unique financial needs, we’re delivering on our mission to level the playing field for independent real estate investors so they can save time, stay organized, and improve their cash flow.” – Chris Hsu, CEO and Co-Founder of Zibo.