Mexico City, July 27nd 2020
Hamoc, a lease management company and leasing risk underwriter that utilizes data and behavior science algorithms to build trust in leasing contracts, closed bridge financing on its seed round for an undisclosed amount with Mexico City venture funds Capital Invent and Soldiers Field Angels.
Said Heberto Taracena, Managing Partner at Capital Invent and founder of Metros Cúbicos: "The home rental market will be transformed by Hamoc. There is huge space for exponential growth, even amidst the challenges posed by the COVID crisis."
Gastón Mauvezin, of Solders Field declared: "SFA supports Mexican entrepreneurs with the vision and capacity to transform whole industries. Hamoc has all the ingredients we seek ... we found a formidable and talented team ... with an innovative technological solution for an important market, with positive social impact."
During its founding years, when its operation was largely boot-strapped, Hamoc developed proprietary technology to assess and manage risks associated with rent collection, property recovery, and vacancy in home rentals. The company’s Trust Engine has resulted in a historic rent collection rate of 99.8% on all leases managed.
This experience led to the development of its new flagship product. A digitally scaleable risk underwriting service, the Hamoc Rent Guarantee defines a new market category and substitutes other imperfect solutions to promote leasing contract compliance such as legal assistance insurance, bonds, and real-estate backed collateral. Its design straddles proptech, fintech, and insurtech, offering clients a unique combination of benefits at an aggregate cost saving of between 60 and 85%.
Rodrigo Barrera, Hamoc's CEO, highlighted: "Just like Uber made it possible to climb into a perfect stranger's car, Hamoc does away with the mistrust between landlords and prospective tenants. Once you use it, you'll ask 'How come nobody did this before?'"
Hamoc and its Rent Guarantee are agnostic to working with any and all real estate rental marketplaces, and greatly enhance their value offering to both landlords and tenants, as well as to realtors.
The proceeds of the current bridge financing will be used to flesh out the company’s core team, led by Stanford alumni Rodrigo Barrera and Raúl Escalante, and by Rita Valero, and to perfect and execute the strategy to capture market share away from traditional risk management schemes.
<aside> <img src="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/8dc68824-2101-4767-9cad-7a8e47a7f4c5/HAMOC_HAMOC_SQ.jpg.png" alt="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/8dc68824-2101-4767-9cad-7a8e47a7f4c5/HAMOC_HAMOC_SQ.jpg.png" width="40px" /> HAMOC *works smart to liberate home rentals from worry by building trust.
Using cutting-edge tech to provide unparalleled Lease Underwriting & Management Services, we make our customers feel both supported and relaxed, the* HAMOC way .
<aside> <img src="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/8dc68824-2101-4767-9cad-7a8e47a7f4c5/HAMOC_HAMOC_SQ.jpg.png" alt="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/8dc68824-2101-4767-9cad-7a8e47a7f4c5/HAMOC_HAMOC_SQ.jpg.png" width="40px" /> www.hamoc.rent
Raúl Escalante - COO