Zenbase offers a flexible rent payment platform that allows renters to split their monthly rent into smaller, manageable payments aligned with their pay cycles, while automatically reporting these payments to credit bureaus to help build credit. This solution addresses the misalignment between traditional rent due dates and bi-monthly pay schedules, reducing late fees and improving financial wellness for renters.
Funding
$4.1M 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
Renters often face a mismatch between traditional monthly rent due dates and their bi-monthly pay schedules, leading to late fees and financial stress. This misalignment can negatively impact their ability to budget effectively and maintain good credit standing.
Solution
Zenbase offers a flexible rent payment platform that allows renters to split their monthly rent into smaller, more manageable payments aligned with their pay cycles. Zenbase pays the full rent amount to the landlord on the due date, while the renter repays Zenbase in installments. The platform also automatically reports rent payments to Equifax, enabling renters to build credit history through their largest monthly expense. By providing flexible payment options and credit-building opportunities, Zenbase aims to improve renters' financial wellness and reduce the stress associated with rent payments.
Target Audience
Zenbase primarily targets renters in Canada who are looking for flexible rent payment options and a way to build credit through their rent payments.
Features
- Rent splitting: Divide monthly rent into smaller payments that align with pay schedules.
- Automated rent reporting: Reports rent payments to Equifax to build credit.
- Flexible payment options: Offers modern payment methods, including e-Transfer.
- Rescheduling: Allows users to reschedule and split payments as needed within the month.
- Cash advances: Provides access to small cash advances (up to $100) to cover bills until the next paycheck.
- Landlord partnerships: Collaborates with housing providers across Canada to offer the platform to their residents.