Sector
Sector
Otso Corp
Otso writes AA-rated guarantees on behalf of Tenants to provide an alternative to cash deposits.
Problem: Cash deposits fail both parties in a commercial lease agreement.1) Deposit amounts do not adequately cover default risk for landlords. 2) Tenants would rather use their cash as working capital for their business.
Solution: Replace cash deposits with a AA-rated credit guarantee. 1) AA-rated Enhanced Risk Coverage for Landlords. 2) Business get to keep their cash for their business!
Marissa Limsiaco, President, marissa@otso.io
Josh Feinberg, Head of Sales and Productjosh@otso.io
Frank Rogers, Head of Technology and Business Process, frank@otso.io
Founders
Landlords pay Otso a monthly fee per lease guarantee.
Business Model
Traction & Milestones
Product launch was in March 2020.
5 Properties Onboarded with Otso.
Stage
We are pre-revenue, but anticipate our first guarantee written for revenue within the next 30 days.
Type of Round
Pre-Money Valuation
$4M Cap / 20% Discount
Target Raise
$250,000
Type of Note
Convertible Note
Amount Left in Round
$175,000