MARINA DEL REY, Calif.--(BUSINESS WIRE)--LeaseLock, the leading insurtech software platform that automates deposits out of leasing while providing enhanced lease insurance protection for multifamily operators, today announced veteran fintech executive Oliver Gratry has joined the company as CFO.
Gratry brings his fintech growth expertise from Facebook, where he was Head of Finance of F2 (Facebook Financial) and CFO of Novi Financial, a Facebook company that is building a digital wallet for the Libra network. He was also a co-creator of the Libra global payment system. Gratry’s career includes stints at Google, Morgan Stanley, and Aetna, where he served as Vice President and CFO of the company’s West Region.
“It’s always exciting to innovate cutting-edge products that you know will disrupt and generate tremendous value for an entire industry,” Gratry said. “That’s what LeaseLock is doing with the rental housing industry, and I couldn’t be happier about the opportunity to contribute to that disruption and to this company’s incredible growth.”
LeaseLock Zero Deposit powers a modern lease experience through insurance technology and deep system integration. Operators automatically replace security deposits with $5,000 in rent loss and damage coverage on every lease with the standard coverage plan. Renters save thousands of dollars at move-in, while apartment communities drive more traffic, convert more leases, significantly reduce bad debt, and eliminate deposit administration and liability.
LeaseLock continues to accelerate with 100% quarterly growth in homes on the platform over the last four quarters and master enterprise agreements totaling more than 1.5 million apartment homes. LeaseLock aims to displace $50 billion in deposits in the U.S.
“Over the last year, LeaseLock has experienced tremendous growth as the industry's only full deposit replacement solution. The addition of Oliver Gratry to our senior leadership team will accelerate our plans to deliver the first insurtech platform to multifamily,” said Derek Merrill, Co-Founder and CEO of LeaseLock. “As other firms deploy legacy B2C deposit alternatives, LeaseLock created the first B2B insurance platform deeply integrated in native property software systems. Oliver will be a tremendous asset having designed financial platforms at internet-scale within an environment of rapid growth.”
LeaseLock integrates with all major property management systems, including Yardi, RealPage, Entrata, Resman and MRI. The lease experience is seamless for residents, effortless for onsite teams, and fully integrated into enterprise back-office workflows. The platform provides on-demand access to asset performance metrics to quantify true enterprise impact, including bad debt reduction and NOI lift.
NMHC Top 50 operator clients include Greystar, Pinnacle, Alliance, Avenue5, Bell Partners, The Bainbridge Companies, LMC and RKW. Top ownership clients include Goldman Sachs, ColRich, GoldCor, Olive Tree, TruAmerica, White Oak, Trinsic and Goodman Real Estate.
LeaseLock helps the world find home. Powered by insurance technology, LeaseLock deploys software and a proprietary AI-driven risk platform to eliminate deposits across entire rental housing portfolios while creating a modern lease experience for residents—faster, simpler, and more affordable.
Headquartered in Marina Del Rey, Calif., LeaseLock has insured over $700 million in leases and is backed by insurance rated A (Excellent) by A.M. Best. LeaseLock has secured $25 million from leading insurance, technology, and real estate venture funds including Liberty Mutual Strategic Ventures, American Family Ventures, Wildcat Venture Partners, and Moderne Ventures. For more information, please visit www.leaselock.com.