Tongo is an online financial services platform that provides real estate professionals with a commission line of credit, allowing them to access up to 75% of pending commissions up to 60 days early for a low fee. The platform also offers a financial benefits system to manage commission payments, enabling agents to distribute funds across various accounts for improved budgeting and investment.
Funding
$11.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Real estate agents often experience inconsistent income due to the unpredictable nature of commission payments, creating financial instability and hindering their ability to manage expenses and invest in their business. Waiting for commission checks after closing deals can strain cash flow and limit opportunities for growth.
Solution
Tongo provides financial solutions tailored for real estate professionals, offering a commission line of credit that allows agents to access up to 75% of their pending commissions up to 60 days early, for a fee. Tongo also offers a financial benefits platform that enables agents to manage and distribute their commission payments across various accounts, including checking, savings, and investment accounts. This platform helps agents stabilize their income, budget effectively, and grow their businesses with greater financial confidence.
Target Audience
Tongo primarily serves real estate agents who seek to stabilize their income, manage their finances more effectively, and gain access to capital for business growth.
Features
- Commission Line of Credit: Access up to 75% of pending commissions up to 60 days early.
- Financial Benefits Platform: Manage and distribute commission payments across multiple accounts.
- Integration with real estate brokerage platforms for streamlined access.
- Secure and private platform for managing financial transactions.
- Tools for budgeting, saving, and investing commission income.