Latest news with #Snappt
Los Angeles Times
4 days ago
- Business
- Los Angeles Times
Snappt Acquires Trigo to Enhance Applicant Trust Platform for Multifamily Housing, Secures $50M Growth Financing
Strategic growth financing accelerates expansion through acquisition and supports product innovation Los Angeles-based Snappt, a platform for applicant trust in multifamily housing, has announced it has acquired Trigo, a company known for its breakthrough technology in verifying rental payment history. Backed by a $50-million committed facility from Hercules Capital, Inc., the acquisition expands Snappt's platform and strengthens its ability to help property managers make faster, more confident leasing decisions. Together, these milestones mark a major step toward building the industry's most complete and trusted solution embedded into the application and screening process. 'This moment marks a major leap forward for Snappt,' said James Hyde, CEO of Snappt. 'With the backing of Hercules Capital and the strategic acquisition of Trigo, we're not just expanding our platform; we're accelerating our vision for a fully integrated trust infrastructure that meets the evolving needs of property managers. These combined milestones enable us to deliver faster, more secure leasing decisions while setting a new standard for accuracy and transparency across the rental journey.' 'Snappt has consistently demonstrated category leadership through product innovation and customer obsession,' said Thomas Krane, managing director at Insight Partners. 'Their evolution from point solution to platform – and now, with the acquisition of Trigo, a fully integrated trust infrastructure – reinforces why we continue to back their vision. Snappt is solving one of the most urgent and complex challenges in multifamily housing: establishing trust at scale.' Property managers are facing rising pressure to reduce risk, streamline leasing workflows and minimize costly evictions. Snappt's Applicant Trust Platform helps property managers spot fake pay stubs, altered bank statements and other forms of application fraud while confirming key indicators of tenant reliability, like verified rent payment history, income, identity, assets and employment. The result: faster approvals and greater confidence that applicants are both qualified and likely to pay rent on time, which in turn builds a community you can trust. 'Trigo was founded on the idea that the best predictor of someone's ability to pay rent is if they paid rent in the past,' said Sam Stein, CEO and co-founder of Trigo. 'We're excited to join forces with Snappt to scale our impact and bring verification innovation to more leasing teams across the country.' The acquisition of Trigo deepens Snappt's capabilities in applicant trust and enables it to natively support one of property managers' most requested proof points: verified rental payment history. Combined with Snappt's industry-leading fraud detection capabilities, the expanded platform enables operators to make faster, more confident leasing decisions while improving accessibility for qualified renters. 'Hercules Capital is excited to partner with Snappt as they continue to provide an industry-leading platform for applicant trust,' said Ruslan Sergeyev, managing director at Hercules Capital. 'Snappt's vision for an end-to-end trust infrastructure resonated deeply with us. Their proven AI-powered technology, rapid growth and commitment to product innovation make them a compelling partner as they continue to scale.' These milestones underscore a period of strong momentum for Snappt, marked by the recent appointment of CEO James Hyde, continued product innovation and strategic partnerships with industry leaders, like Mastercard and Tenant Cloud. Since its founding in 2019, Snappt has analyzed over 14 million documents with 99.8% accuracy, preventing more than $1.9 billion in potential bad debt. Information sourced from Businesswire. Learn more by contacting snappt@
Yahoo
5 days ago
- Business
- Yahoo
Snappt Acquires Trigo to Enhance Applicant Trust Platform for Multifamily Housing, Secures $50M Growth Financing
Strategic growth financing accelerates expansion through acquisition and supports product innovation LOS ANGELES, August 05, 2025--(BUSINESS WIRE)--Snappt, the leading platform for applicant trust in multifamily housing, today announced it has acquired Trigo, a company known for its breakthrough technology in verifying rental payment history. Backed by a $50 million committed facility from Hercules Capital, Inc. (NYSE: HTGC), the acquisition expands Snappt's platform and strengthens its ability to help property managers make faster, more confident leasing decisions. Together, these milestones mark a major step toward building the industry's most complete and trusted solution embedded into the application and screening process. "This moment marks a major leap forward for Snappt," said James Hyde, CEO of Snappt. "With the backing of Hercules Capital and the strategic acquisition of Trigo, we're not just expanding our platform, we're accelerating our vision for a fully integrated trust infrastructure that meets the evolving needs of property managers. These combined milestones enable us to deliver faster, more secure leasing decisions while setting a new standard for accuracy and transparency across the rental journey." "Snappt has consistently demonstrated category leadership through product innovation and customer obsession," said Thomas Krane, Managing Director at Insight Partners. "Their evolution from point solution to platform—and now, with the acquisition of Trigo, a fully integrated trust infrastructure—reinforces why we continue to back their vision. Snappt is solving one of the most urgent and complex challenges in multifamily housing: establishing trust at scale." Property managers are facing rising pressure to reduce risk, streamline leasing workflows, and minimize costly evictions. Snappt's Applicant Trust Platform helps property managers spot fake pay stubs, altered bank statements, and other forms of application fraud while confirming key indicators of tenant reliability like verified rent payment history, income, identity, assets, and employment. The result: faster approvals and greater confidence that applicants are both qualified and likely to pay rent on time, which in return builds a community you can trust. "Trigo was founded on the idea that the best predictor of someone's ability to pay rent is if they paid rent in the past," said Sam Stein, CEO and Co-Founder of Trigo. "We're excited to join forces with Snappt to scale our impact and bring verification innovation to more leasing teams across the country." The acquisition of Trigo deepens Snappt's capabilities in applicant trust and enables it to natively support one of property managers' most requested proof points: verified rental payment history. Combined with Snappt's industry-leading fraud detection capabilities, the expanded platform enables operators to make faster, more confident leasing decisions while improving accessibility for qualified renters. "Hercules Capital is excited to partner with Snappt as they continue to provide an industry-leading platform for applicant trust," said Ruslan Sergeyev, Managing Director at Hercules Capital. "Snappt's vision for an end-to-end trust infrastructure resonated deeply with us. Their proven AI-powered technology, rapid growth, and commitment to product innovation make them a compelling partner as they continue to scale." These milestones underscore a period of strong momentum for Snappt, marked by the recent appointment of CEO James Hyde, continued product innovation, and strategic partnerships with industry leaders like Mastercard and Tenant Cloud. Since its founding in 2019, Snappt has analyzed over 14 million documents with 99.8% accuracy, preventing more than $1.9 billion in potential bad debt. Today, its solutions protect over 2.2 million rental units and are trusted by many of the nation's top property management companies. In the transactions, Hercules Capital, Inc. was represented by Will Gerber from Morrison & Foerster LLP. Trigo, Inc. was represented by Michael Fesher from Quarles & Brady LLP. Snappt, Inc. was represented by Stephen Fisher, Will Black, Liz Malmen, and Steve Krafcik from Fenwick & West LLP. About Snappt Snappt is an AI-powered applicant fraud detection and income verification solution for multifamily property managers. Since its inception in 2019, Snappt's technology has been adept at identifying even the slightest document alterations, saving leasing teams time while reducing bad debt and evictions. As the market leader for fraud detection, Snappt has analyzed over 14 million documents with an impressive accuracy rate of 99.8%. They are the only fraud detection company that conducts proactive fraud research, and they were recently ranked #1 in AI on the Inc. 5000 list. Visit View source version on Contacts Media Contact:Walker Sandssnappt@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
Snappt Acquires Trigo to Enhance Applicant Trust Platform for Multifamily Housing, Secures $50M Growth Financing
LOS ANGELES--(BUSINESS WIRE)-- Snappt, the leading platform for applicant trust in multifamily housing, today announced it has acquired Trigo, a company known for its breakthrough technology in verifying rental payment history. Backed by a $50 million committed facility from Hercules Capital, Inc. (NYSE: HTGC), the acquisition expands Snappt's platform and strengthens its ability to help property managers make faster, more confident leasing decisions. Together, these milestones mark a major step toward building the industry's most complete and trusted solution embedded into the application and screening process. 'This moment marks a major leap forward for Snappt,' said James Hyde, CEO of Snappt. 'With the backing of Hercules Capital and the strategic acquisition of Trigo, we're not just expanding our platform, we're accelerating our vision for a fully integrated trust infrastructure that meets the evolving needs of property managers. These combined milestones enable us to deliver faster, more secure leasing decisions while setting a new standard for accuracy and transparency across the rental journey.' 'Snappt has consistently demonstrated category leadership through product innovation and customer obsession,' said Thomas Krane, Managing Director at Insight Partners. 'Their evolution from point solution to platform—and now, with the acquisition of Trigo, a fully integrated trust infrastructure—reinforces why we continue to back their vision. Snappt is solving one of the most urgent and complex challenges in multifamily housing: establishing trust at scale.' Property managers are facing rising pressure to reduce risk, streamline leasing workflows, and minimize costly evictions. Snappt's Applicant Trust Platform helps property managers spot fake pay stubs, altered bank statements, and other forms of application fraud while confirming key indicators of tenant reliability like verified rent payment history, income, identity, assets, and employment. The result: faster approvals and greater confidence that applicants are both qualified and likely to pay rent on time, which in return builds a community you can trust. 'Trigo was founded on the idea that the best predictor of someone's ability to pay rent is if they paid rent in the past,' said Sam Stein, CEO and Co-Founder of Trigo. 'We're excited to join forces with Snappt to scale our impact and bring verification innovation to more leasing teams across the country.' The acquisition of Trigo deepens Snappt's capabilities in applicant trust and enables it to natively support one of property managers' most requested proof points: verified rental payment history. Combined with Snappt's industry-leading fraud detection capabilities, the expanded platform enables operators to make faster, more confident leasing decisions while improving accessibility for qualified renters. "Hercules Capital is excited to partner with Snappt as they continue to provide an industry-leading platform for applicant trust,' said Ruslan Sergeyev, Managing Director at Hercules Capital. 'Snappt's vision for an end-to-end trust infrastructure resonated deeply with us. Their proven AI-powered technology, rapid growth, and commitment to product innovation make them a compelling partner as they continue to scale." These milestones underscore a period of strong momentum for Snappt, marked by the recent appointment of CEO James Hyde, continued product innovation, and strategic partnerships with industry leaders like Mastercard and Tenant Cloud. Since its founding in 2019, Snappt has analyzed over 14 million documents with 99.8% accuracy, preventing more than $1.9 billion in potential bad debt. Today, its solutions protect over 2.2 million rental units and are trusted by many of the nation's top property management companies. In the transactions, Hercules Capital, Inc. was represented by Will Gerber from Morrison & Foerster LLP. Trigo, Inc. was represented by Michael Fesher from Quarles & Brady LLP. Snappt, Inc. was represented by Stephen Fisher, Will Black, Liz Malmen, and Steve Krafcik from Fenwick & West LLP. About Snappt Snappt is an AI-powered applicant fraud detection and income verification solution for multifamily property managers. Since its inception in 2019, Snappt's technology has been adept at identifying even the slightest document alterations, saving leasing teams time while reducing bad debt and evictions. As the market leader for fraud detection, Snappt has analyzed over 14 million documents with an impressive accuracy rate of 99.8%. They are the only fraud detection company that conducts proactive fraud research, and they were recently ranked #1 in AI on the Inc. 5000 list. Visit
Business Wire
12-06-2025
- Business
- Business Wire
Snappt to Launch AI-Enabled Verification of Rent Powered by Trigo to Combat Fraud and Improve NOI
LAS VEGAS--(BUSINESS WIRE)-- Snappt, the leading platform for applicant trust in multifamily housing, today announced at NAA Apartmentalize the upcoming addition of Verification of Rent (VOR) powered by Trigo. In addition to VOR, Snappt is expanding its platform with enhanced Verification of Assets (VOA) and bank account linking—now supported by a new partnership with Mastercard's open banking platform, delivered by Finicity. These enhancements are part of Snappt's expanded Applicant Trust Platform, providing comprehensive financial verification backed by real-time data and best-in-class fraud protection. Verification of Rent, powered by Trigo, enables property managers to automatically and accurately verify applicant rental payment history, eliminating the need for manual outreach to previous landlords. This streamlined process provides reliable assessments for prospective renters, identifying applicants who are 4x more likely to default based on verified rent payment history that traditional credit reports miss. It also helps boost occupancy rates by proving reliable rent payment history for applicants who may have otherwise been denied. With less than 5% of rental history available through traditional credit reporting, VOR delivers 25x more coverage than credit bureaus and achieves over 80% verification success, compared to the industry standard of under 50% (collected manually via the leasing agent). This gives property managers the comprehensive rental payment data they need to confidently approve qualified renters and reduce risk. 'Leasing should be fast, secure, and grounded in trust,' said James Hyde, CEO at Snappt. 'Property managers today are under increasing pressure to move quickly without sacrificing accuracy. We are addressing this need and setting a new standard so operators can make decisions with greater confidence and less manual effort.' Key features of Snappt's Applicant Trust Platform: Verification of Rent (VOR): Automated, reliable verification of an applicant's rent payment history. Bank Account Linking: Reduce friction for applicants by offering the option of instant verification and speed up application processing. Verification of Assets (VOA): Approve creditworthy applicants with significant assets who may not meet traditional income requirements, directly improving occupancy rates and NOI. Industry-Leading Fraud Detection: Snappt's proven AI-driven detection technology and fraud forensics team have analyzed over 13 million documents, ensuring accurate results. Connected Payroll: Direct integration with 90% of US payroll providers instantly verifies income and employment status in real-time. ID Verification: Best-in-class biometric technology, complete with 30+ checks on an ID and the ability to scan 4,600+ global ID types. These new capabilities build on Snappt's mission to set the standard for fast, secure, and trusted leasing decisions. By expanding its verification platform, Snappt continues to help property managers stay ahead of fraud, accelerate approvals, and protect the integrity of their communities. Stop by booth #345 at Apartmentalize to learn how Snappt is redefining trust in multifamily. To read more about these latest offerings, visit About Snappt Snappt is the leading verification platform built for the multifamily housing industry. Snappt uncovers the truth behind every application—detecting fraud and verifying identity, income, and assets—so operators can confidently approve qualified residents and protect their communities. As the market leader for fraud detection, Snappt has analyzed over 13 million documents with an impressive accuracy rate of 99.8%. They are the only fraud detection company that conducts proactive fraud research, and they were recently ranked #1 in AI on the Inc. 5000 list. Visit
Business Wire
11-06-2025
- Business
- Business Wire
BetterNOI and Snappt Join Forces to Fight Fraud and Streamline Leasing
LAS VEGAS--(BUSINESS WIRE)--BetterNOI, a leading technology provider for the multifamily industry, today announced a strategic partnership with Snappt, the leader in fraud detection for residential apartment property managers. The collaboration brings Snappt's advanced fraud detection technology into BetterNOI's Enhanced Verification process, streamlining applicant verification, reducing manual review, and easing the workload for busy leasing teams. As part of this partnership, Snappt's fraud detection is embedded directly into the BetterNOI application process. It scans uploaded documents and delivers results within minutes to minimize delays and reduce manual review. 'Our internal verification department works directly with applicants, walking them through the process of uploading documents, freeing property teams to focus on delivering a better leasing experience,' said Jessie Oliver, Vice President of Product and Experience at BetterNOI. 'By integrating Snappt, we reduce even more of that burden. I know from experience how time-consuming it is to assess authenticity. With Snappt's technology, we're empowering teams to make confident decisions without the stress of manual review.' This partnership also enables BetterNOI to use Snappt's fraud detection in cases where applicants choose not to connect payroll or banking information, scenarios that would otherwise require manual document review. The result is a faster, more consistent process for applicants and property teams alike. 'We're proud to partner with BetterNOI because we align closely with their values,' said Kyle Nelson, Vice President of Corporate Strategy at Snappt. 'Both companies are committed to empowering property teams, reducing workload through smart technology, and delivering a better leasing experience. This partnership reflects a shared vision for how innovation should support people and operations in multifamily communities.' This integration with Snappt reinforces the companies' shared commitment to a streamlined applicant experience, reduced workload for property teams, and actionable data for operators, furthering BetterNOI's mission: We make you better. Stop by booth #1645 at Apartmentalize this week to learn how this partnership drives smarter, more efficient leasing decisions. To see how BetterNOI and Snappt help reduce fraud and streamline the applicant process, contact sales@ for a demo of Enhanced Verification. About BetterNOI BetterNOI has spent over 25 years helping multifamily communities improve operations, reduce workload, and increase visibility. What began as a screening solution has grown into a full-service platform supporting the entire leasing journey, from attracting applicants to securing leases and managing resident life cycles. Today, BetterNOI offers everything from websites and online leasing to review management, screening, resident portals, and portfolio-level analytics. About Snappt Snappt is the leading verification platform built for the multifamily housing industry. Snappt uncovers the truth behind every application—detecting fraud and verifying identity, income, and assets—so operators can confidently approve qualified residents and protect their communities. As the market leader for fraud detection, Snappt has analyzed over 13 million documents with an impressive accuracy rate of 99.8%. They are the only fraud detection company that conducts proactive fraud research, and they were recently ranked #1 in AI on the Inc. 5000 list. Visit
