Crib acquires CirclePe to enable deposit-free moves and instant payouts
Business
Crib, the co-living startup, has acquired rent financing platform CirclePe to make renting way easier.
Now, tenants can move in without paying a big security deposit upfront, while property operators get their rent instantly.
CirclePe was started by Navan Jaiswal and Ankur Yadav and raised close to ₹7.5 crore in pre-seed funding at a valuation of around ₹35 crore in May 2024.
CirclePe partners with NBFCs
CirclePe partners with NBFCs to cover deposits or rent for tenants, then pays operators right away: tenants just pay back monthly instead of all at once.
Crib's co-founders described the integration as a game changer, since moving in gets simpler for renters and less stressful for landlords.