TheGuarantors secures $35 million in debt
TheGuarantors, which offers lease guarantee and renters insurance, has raised $35 million in growth capital financing from CIBC Innovation Banking. With the completion of this funding round, TheGuarantors has raised over $110 million in equity and debt financing.
Launched in 2015 in New York, TheGuarantors is in the space of Rhino, LeaseLock, and Jetty. The startup works with several companies for its lease guarantee and renters insurance product including The Hanover, Arch, Everspan, Spinnaker, Stillwater, Trisura, and Century-National.
“We’re extremely pleased to secure additional capital to power the continuing growth of our business. In the context of economic turbulence and tight capital markets, additional commitment from such a high quality financing partner is a testament to the health and promise of our business. With our strong unit economics and diligent spend ethos we were already very comfortably capitalized from an equity standpoint, but this debt capital will help us build additional capabilities we will share later this year. We couldn’t be more excited for what’s ahead.” – Julien Bonneville, CEO of TheGuarantors.
“Our team is delighted to be working with TheGuarantors as the company continues on its growth trajectory. We are impressed by the team’s vision and look forward to supporting TheGuarantors on this exciting journey.” – Eric Laflamme, managing director at CIBC Innovation Banking.