South African insurtech startup LeaseSurance has raised ZAR3 million (US$161,0000 in seed funding to expand its team and further develop cutting-edge technology solutions for the real estate industry. LeaseSurance uses financial technology to optimise assets in rental real estate by replacing security deposits with lease insurance. Traditionally, landlords have relied on cash deposits for protection against tenants defaulting as a result of these pressures. LeaseSurance’s B2B, tech-driven lease insurance addresses these concerns for landlords by reducing the administrative burden, replacing cash deposits with affordable monthly fees, and lowering bad debts. “LeaseSurance has created the foundation for an end-to-end enterprise insurtech property platform which resonates with Fedgroup’s 30+ years’ experience in the property industry.
