Nomad, a marketplace that aims to provide small-time rental property owners with “guaranteed rent,” has raised $20 million in a Series A funding round led
What happened
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Why it matters
The raise comes just six months after the Denver-based startup raised about $5 million in a seed round of funding. Nomad’s co-founders PJ O’Neil and Matt Thelen started the company after leaving their respective roles at Opendoor and Twilio. O’Neil was a general manager at Opendoor and Thelen was director of business operations at Twilio.
Founded in 2020, Nomad’s goal is to remove risk and financial uncertainty for small-time rental property owners. Today, it offers several financial products for both rental owners and their residents. Its flagship product is guaranteed rent for mom-and-pop rental property owners (primarily DIY landlords), which is designed to give these landlords more certainty even in turbulent market conditions.
“We help these rental owners maximize what they earn by reducing unnecessary vacancy costs that are painful to bear when there’s a mortgage and other expenses to cover,” said O’Neil.
This news brief is based on reporting published by TechCrunch on 2022-02-16. The original report is linked below.
TechCrunch
https://techcrunch.com/2022/02/16/nomad-closes-on-20m-to-transform-the-landlord-tenant-experience/This independent news brief is based on the public source identified above. It is an original summary or translation, not a reproduction of the source article. Rights in source text, research, trademarks and images remain with their respective owners; images are used under the licence or permission identified in the credit. Rights holders may contact rights@goodproductasia.com with evidence of ownership. Verified concerns will be corrected, replaced or removed promptly. This report is not investment, legal, medical or purchasing advice.
