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New York & Tri-State  + Downtown New York  + Finance  | 

Obligo, Wells Fargo Partner on Security Deposit Alternative 

Lower Manhattan-based fintech company Obligo has unveiled a model, supported by Wells Fargo, that further enhances its product offering. Obligo is reportedly now the only security deposit alternative utilizing bank-issued letters of credit to provide apartment landlords and tenants with security, flexibility and ease of transaction. 

Landlords and property managers using Obligo’s service can now enjoy enhanced protection via Wells Fargo LOCs, while renters are able to rent deposit-free. 

“Wells Fargo has been an incredible advisor on this initiative,” said Roey Dor, CEO of Obligo. “They share our vision of leveraging existing bank products in new ways to support proptech innovation and have been extremely agile in helping this updated model come to life.” 

Rahul Baig, managing director, head of venture capital coverage at Wells Fargo, said, “Wells Fargo works with leading edge fintech companies as they scale, and we are thrilled to work with Obligo on this unique solution.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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