Flip gets $2.2 million to grow its marketplace for long-term sublets

Flip raises fund to help renters lease their apartments
By Jonathan Shieber.

For anyone who’s ever wanted to break a lease, but felt trapped by their contract, Flip has the service for you.

The company, which allows users to sublet or get out of their lease, has just raised $2.2 million in new financing to grow its business and is looking to expand beyond its suite of offerings to renters in San Francisco, Los Angeles, and New York.

Vila said Flip is developing in-app payments, rent guarantees, and generic legal documents to streamline the subletting process.

“The idea behind why we built it is that people’s lives never fit into a 12 month time period,” says company chief executive Susannah Vila. “The nature of the people who are using us are people who want that flexibility.”

The New York-based company was born out of the desperation of its CEO. While attending grad school at Columbia, VIla found herself desperately searching for a way out of a living situation with an ex-boyfriend.

Read more at Techcrunch.

Be first to comment