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,
Josh Feinberg, Head of Sales and
Frank Rogers, Head of Technology and Business Process,
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
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Pre-Money Valuation
$4M Cap / 20% Discount
Target Raise
$250,000
Type of Note
Convertible Note
Amount Left in Round
$175,000