Circa bags $2m as it revolutionises rent payment

Circa, which claims to be revolutionising the way people pay rent, has reportedly collected $2m to grow the types of properties it supports.

The company is expected to raise more capital in the near future, according to a report from TechCrunch.

Investments came from Maine Venture Fund, Techstars and Hub Investment Group.

Tenants can choose to pay their monthly rent through either one, two or four instalments. Payments can be made through bank transfers, debit/credit cards or cash at a local retailer.

If the resident misses a payment, they can work on a plan to help catch up. Furthermore, paying rent helps the user build their credit score.

The company is currently working with 1,000 units in the Northeast, Pennsylvania and in Sun Valley, the article said.

Property owners benefit from an admin web portal, resident onboarding, account support and revenue on all flexible payments to replace late fees.

Circa charges property owners $1 per unit, per month, the TechCrunch report said.

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