Property Developer LeFrak Backs Insurance Startup Jetty

Property Developer LeFrak Backs Insurance Startup Jetty

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Inman Connect San Francisco, Jul 16-20, 2018

Jetty is a startup working to upend insurance and security deposits for renters — and it just got a major vote of confidence in its mission from property developer LeFrak.

LeFrak joined Jetty’s August Series A round as a late investor at the end of 2017. The company contributed to the $11.5 million Jetty already announced bringing on, but the two companies declined to disclose the size of LeFrak’s contribution.

At the same time, LeFrak will offer Jetty’s security deposit replacement product to tenants in multifamily buildings across its portfolio.

“They brought outstanding technology talent to an old and tired industry that was finding it very challenging to sell to modern consumers,” said William Field, who oversees LeFrak’s investments. “They have a big vision to really reinvent a way to market, sell and service insurance.”

The New York-based startup founded in 2015 already has major investors across tech: Valar Ventures, Box Group, Red Swan Ventures and others. And …

Article image credited to jay blacks on Unsplash