Leapeasy provides insurance‑backed alternatives to traditional security deposits and personal guarantors for renters. Its Deposit Replacement lets tenants pay a small monthly fee instead of a large upfront cash deposit, while the Agile Rent Guaranty acts as an institutional guarantor, enabling qualified tenants—such as students or early‑career professionals—to secure leases they might otherwise be denied. The service is delivered through a fast digital application and backed by an A‑M Best‑rated insurer, giving landlords reliable protection against unpaid rent and property damage.
Funding
$7.6M 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.
ACFPPFounders
Product
Problem
Renters often must provide large upfront security deposits or secure a personal guarantor, which ties up cash and can prevent qualified tenants from accessing desired apartments. Landlords, meanwhile, face risk of unpaid rent and property damage without sufficient financial protection.
Solution
Leap offers two insurance-backed products that replace traditional security deposits and personal guarantors. The Deposit Replacement (LDR) lets tenants pay a low, non‑refundable monthly fee instead of a full cash deposit, freeing up their capital for other needs. The Agile Rent Guaranty acts as an institutional guarantor, allowing tenants—such as students, international professionals, or those with limited credit—to qualify for leases that would otherwise be out of reach. Both products are underwritten by an A‑M Best‑rated insurance carrier, and Leap handles the application, underwriting, and provision of proof of coverage to landlords, streamlining the move‑in process.
Target Audience
Primary customers are renters who lack sufficient cash for a security deposit or a personal guarantor—such as students, international residents, and early‑career professionals—and landlords seeking reliable, insurance‑backed protection for rent payments and property damage.
Features
- Deposit Replacement substitutes a small monthly fee for a large upfront cash security deposit.
- Agile Rent Guaranty provides institutional guarantee coverage, eliminating the need for a personal cosigner.
- Fast, digital application completed in minutes on any device, with decisions typically returned within 30 minutes during business hours.
- Integration with hundreds of thousands of U.S. residential properties, enabling seamless lease confirmation and proof of coverage delivery to landlords.
- One‑time fee structure based on lease term, credit profile, and financial conditions; payment accepted via credit/debit card, Zelle, or certified check.
- Coverage backed by an insurance company rated A‑ (Excellent) by A.M. Best, ensuring financial stability for landlords.