Stake, a loyalty company for the rental economy, acquired Circa, a NYC-based rent payments company, for $9.5M in cash and stock. With the acquisition, Circa’s payment technology is now added to Stake’s renter banking services platform.
Stake currently offers success-based collections management, free payment processing, and renter banking services in addition to incentive optimisation and loyalty programmes. Through the agreement, Stake offers Get Current, a customisable payments solution with a human-led CRM that enables and incentivizes renters to pay back past-due rent, integrated delinquency and collections management.
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Circa, led by CEO Leslie Hyman, offers a web-based payment platform that makes rent payments easier by giving tenants alternatives to paying late and risking eviction. The business benefits property owners by streamlining rent collection, boosting timely rent and arrears collection, and enhancing resident relations.
Under the direction of CEO Rowland Hobbs, Stake balances the interests of owners, operators, investors, and tenants to ensure that everyone gets the Return on RentTM they are due. Renters can get free and fair banking services, increase their savings, enhance their credit, and earn Cash Back thanks to its superior revenue management features.
Renters now have access to a variety of payment options, such as no-cost ACH, debit/credit cards, and a network of 40,000 no-cost cash stations for paying rent in the US, thanks to the addition of Circa.
Renters receive quick payments and are rewarded with Cash Back for making on-time payments. All of the top providers of property management software are integrated with Stake, guaranteeing that each and every rent payment and incentive is noted in the accounting ledger.
About Stake
Stake is not a bank; rather, it is a provider of financial technologies. Blue Ridge Bank, N.A. and TransPecos Banks, SSB, Members FDIC, are the providers of certain banking services. Under licence from Visa U.S.A. Inc., Blue Ridge Bank, N.A. and TransPecos Banks, SSB issue the Stake Visa Debit Card, which can be used everywhere Visa cards are accepted.
About Circa
Rent payment is reimagined by Circa, an innovative web-based payment platform that puts choice, convenience, inclusivity, and respect first. It tackles the issue that about thirty percent of US households that rent have difficulty finding other options for their renter lifestyle than having to pay late and risk being evicted. For landlords, Circa streamlines the rent collecting process, boosts timely rent and arrears collection, and enhances resident satisfaction.
