Investment further strengthens Jetty’s partnership with leading property owner / manager
Jetty, the financial services company on a mission to make renting a home more affordable and flexible, announced a multi-million dollar investment from Wilshire Lane Capital, a new PropTech-focused fund which is anchored by Morgan Properties, the second largest owner of multifamily housing in the U.S*.
Jetty has had a commercial relationship with Morgan Properties since 2020 and the company’s Senior Vice President of Financial Planning and Business Development, Todd Richman, recently joined Jetty’s Real Estate Advisory Board.
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“In addition to joining Wilshire Lane’s growing portfolio of exciting investments, we’re thrilled to further our relationship with Morgan Properties and work even closer with them on current and future products,” said Mike Rudoy, Jetty’s Co-Founder and Chief Executive Officer.
Wilshire Lane and Morgan Properties formalized their strategic partnership in January 2022. With Morgan as their anchor investor, Wilshire Lane can leverage their vetting process and identify companies that have proven themselves in market.
“With its best-in-class deposit alternative product and an exciting new flexible rent payment program, Jetty is exactly the type of nimble, high-growth company we’re looking to invest in,” said Adam Demuyakor, Founder and Managing Partner at Wilshire Lane. “Jetty’s network of the country’s largest property management companies gives them a special opportunity to become a leading financial services platform in the multifamily technology industry.”
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Wilshire Lane Capital and Morgan Properties join a high-profile portfolio of existing Jetty investors, including Khosla Ventures, Ribbit Capital, Valar, Citi, and Flourish Ventures.
About Jetty
Jetty is the financial services platform on a mission to make renting a home more affordable and flexible. Jetty’s integrated suite of products helps property managers increase lease conversions, improve resident retention, reduce bad debt, and boost NOI. For renters, Jetty decreases the financial burden of moving into a new home and offers greater flexibility with how and when to pay rent.
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