# Standby Deposits

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/standby-deposits

- Industry: Software
- Headquarters: New York, US
- Website: www.standby.io
- Total disclosed funding: $5.3M
- Latest round: Seed (Apr 19, 2023)
- Investors on record: 2

## About

Based in New York, US, and founded in 2021, Standby Deposits Inc. is a developer of a rent deposit alternative platform for renters. Egill Almar Agustsson and Elvar Thormar are the co-founders of the company. In April 2023, Standby Deposits Inc. raised USD 5.3 million in seed funding from Brunnur Ventures and Stodir hf.

The company offers a platform that connects landlords and tenants and removes security deposits by allowing renters to rent property based on their rental credit score, as well as a banking connection to ensure rents are transferred on time. The firm offers a cash-free security deposit replacement to both renters and landlords. Standby Deposits also offers a rental history and credit score-building service.

The company plans to use the April 2023 funding to establish additional partnerships with landlords and property management firms, improve its technology, and accelerate business growth.

## Funding rounds

- Seed, Apr 19, 2023, $5.3M — Brunnur Ventures, Stoðir hf.

## Investors

- Brunnur Ventures (https://capitalatlas.ai/funds/brunnur-ventures) — Seed
- Stoðir hf. — Seed