New York City-based rental tech company UpTop has announced that it had raised $5.5 million in funding. The funding was led by KAL Investments INC, a U.S.-based investment company specializing in disruptive industry performers.
“We see this as an opportunity to be an early part of a company with a vision to change how people rent around the world,” said Khalifa Alghanim, KAL Investments representative.
UpTop will use this investment to expand an evolution of the current rental process by offering a highly user-beneficial experience and creating a new rental ecosystem for renters, owners and property managers. “The team here worked so hard to create an innovative platform that will really change the way people do business in the rental space,” said Frank Barletta, CEO of UpTop. “UpTop understands the pains of the rental and management process for renters, property owners, and managers, and no one seems to want to improve it, so we’re going to.”
UpTop streamlines the entire real estate rental and management process at no cost to property owners or managers. Renters benefit as the platform shows real units and lets them complete the entire process on their smartphone. Owners and managers benefit because the service is free, their vacancies are filled without headaches and rent is collected electronically directly into their bank accounts.
“We are really excited to be doing something way different than the current market. To re-segment the way people do business within the rental tech space feels really good and the attention and signups we’re achieving tells us that we’re on track to make a big impact by 2020. By providing owners and managers with the ability to list current and future vacancies, screen prospects, eSign leases, collect rent, fulfil maintenance requests and manage reports and accounting – literally everything to improve bottom lines and improve cash flow by managing rental properties through UpTop,” said Barletta.
