Propico provides a deposit protection platform that replaces traditional cash security deposits with a low‑cost, insurance‑backed guarantee for tenants, while offering landlords a rent guarantee scheme that ensures timely payments even if a tenant defaults. The service automates claim processing, dispute resolution, and integrates with property management systems to deliver real‑time verification of coverage and reduce administrative overhead.
Funding
Funding not disclosed
Founders
Product
Problem
Renters often struggle to afford large security deposits, while landlords face the risk of unpaid rent and costly eviction processes. The traditional deposit system creates financial barriers for tenants and uncertainty for property owners.
Solution
Propico offers a deposit protection platform that replaces conventional cash security deposits with a low-cost insurance-backed guarantee for tenants. The service also provides landlords with a guaranteed rent payment scheme, ensuring they receive rent on time even if a tenant defaults. By handling claims and dispute resolution through a centralized system, Propico reduces administrative overhead for both parties. The platform integrates with existing property management workflows, allowing seamless onboarding and real-time verification of coverage. This model lowers upfront costs for renters and mitigates revenue loss for owners, facilitating smoother rental transactions.
Target Audience
Propico serves residential tenants seeking affordable move‑in options and property owners or landlords who want reliable rent collection and reduced deposit‑related risk.
Features
- Insurance-backed deposit guarantee that eliminates the need for large upfront cash deposits
- Rent guarantee program that ensures landlords receive scheduled payments regardless of tenant default
- Automated claim processing and dispute resolution managed through an online portal
- Integration APIs for property management software and leasing platforms
- Real-time verification of tenant coverage and landlord protection status
- Transparent fee structure with no hidden charges for either party