Chexy, a Canadian startup which allows renters to pay their rent online whilst earning rewards and building credit, has announced it has raised $3 million in a seed round. T (View Highlight)
Chexy was launched in early 2023 and enables tenants to make their monthly rental payments through their credit cards. The app allows users to easily split rent with roommates and earn cashback or rewards from their cards, while Chexy charges a fee which varies depending on the payment method. Chexy also allows renters to self-report payments to Equifax so they can build their credit. Chexy previously charged a fee for this, but alongside the funding announcement said that this feature would now be free-to-use.
Lisa Akhvledziani,(middle), CEO, said: “Not having rent payments on the credit report is causing a significant information asymmetry between tenants and landlords, making the next apartment search hard in an incredibly competitive rental market. Homeownership in Canada is already a pipe dream for many, so this is Chexy’s way of helping people move closer to achieving their dreams.” (View Highlight)
Chexy recently announced Chexy Home Services, allowing tenants to purchase tenant insurance coverage, WiFi, phone services, and more—all at great rates under the Chexy home system with more services to come, making the Canadian rental experience more convenient and affordable. (View Highlight)
