Climate Action at getmomo
Momo is a fintech company with the mission to make the renting market easier. Based in Berlin, we are working hard to free people from the burden of rent deposits while freeing up time & costs for landlords. The monthly rent is for the majority of people the largest single expense, averaging today already 39% of disposable income. Although rent and deposits are an increasingly large burden and create more and more work and costs on the landlord side, little has happened in terms of new solutions that cater to both sides. We are here to change that. Our platform allows landlords to offer our deposit replacement with every new letting, but also to existing tenants. With our platform, they have a perfect overview of all payment streams and deposits. Freeing up to 30% of their daily time and helping them to cut on increasingly high banking fees.
Tenants can choose our zero-deposit option, so they can move without the burden of a high deposit and only pay a small monthly fee instead. Our deposit replacement offering rate is up to 40% more favourable to tenants than incumbent products. We take out the perceived stigma of deposit replacements, by offering those automatically through our partners. With us, renting gets a lot easier for both sides.