Both founded by pioneering women in proptech, CRETech innovator in tenant and market due diligence Megalytics has joined forces with commercial real estate fintech services company Otso to provide real-time risk management, market data insight and additional tenant default protection for landlords while minimizing cash outlays for tenants.
Historically, technology companies in commercial real estate have not been collaborative, but Otso co-founder Marissa Limsiaco said she envisions a different approach to becoming leaders of change.
“We see this partnership as an opportunity to provide more value to our existing customers and Megalytics aligns perfectly with our mission and value proposition,” Limsiaco said. “I’m also especially honored to partner with another woman founder in our industry.”
The status quo for protection against tenant default in commercial real estate requires businesses to lockup a significant amount of working capital to lease space, yet landlords are still left with high capital exposure and limited knowledge of tenant financial standing during the term of the lease. Combining the offerings of Megalytics and Otso arms landlords with a powerful comprehensive package to maximize protection against tenant default while increasing their asset’s value with a deep dive, real-time assessment of the quality and performance of their tenants, the companies said. With Otso, tenants can also retain their working capital typically locked in deposits or letters of credit. It’s a win-win for both parties.
“Our clients are always concerned about getting the right amount of security on any commercial lease and what options might be available in the industry to secure a lease with minimal cost and resources,” said Megalytics Founder Donna Salvatore. “We look forward to forging this new partnership in the industry and how we can further bring value and reduce risk for our clients.”
