TheGuarantors forms an exciting new partnership
TheGuarantors, a pioneering fintech company turning the leasing experience on its head with innovative financial and insurance products, has revealed today that it has expanded to partner with three leading global A-rated specialist insurers to offer Securiti to commercial tenants. This affirms the growth of the company after having recently launched their new Los Angeles office and its network now extends to 46 states across the US.
The offer of Securiti to commercial tenants is a true game changer regarding deposits. Securiti is the foremost replacement for cash security deposits and letters of credit which directly lowers default risk, for both new and current leases. It is an insurance policy created specifically for commercial leases which is applicable to both direct and sublease agreements, and costs an annual premium instead of a sizeable collateral requirement.
TheGuarantors have estimated that across the US businesses have around $125 Billion tied up in traditional security deposits. This tied up capital stifles the opportunities for growth whereas with TheGuarantors' solution, businesses can get 3-6 months of rent (average length of security deposit) back as liquidity on their balance sheets. This is all the more important in the wake of the Covid19 pandemic, as landlords and tenants alike look for innovative solutions such as Securiti to instill financial surety.
It is groundbreaking agreements such as this that has enabled the company to embark on its first international expansion, with Montreal the chosen destination. This will allow the company to offer their product to a brand-new market and make their mark on the flourishing Montreal fintech sector.
Read the full press release here.