Using AI to Detect Tenant Fraud with Daniel Berlind, CEO of Snappt
Currently, one in eight applicants (12.2%) commits application fraud. By detecting this fraud, Snappt helped its customers avoid more than $105 million in bad debt in 2021. Over 1,000 multi-family communities use Snappt, including four of the top five property management firms in the US, helping their leasing teams reduce fraud, minimize evictions and speed up the leasing process.
Daniel Berlind is the co-founder and CEO of Snappt. In this interview, he gets into the details of why detecting fraud in a historically paper-driven industry is only getting more difficult due to the ease at which someone can falsify documents. This further illustrates the need to consider adopting new tech and processes to avoid renting units to those who may not be who they represent themselves as. Snappt has uncovered a very large problem hiding in plain sight and is building very quickly. Snappt has raised $100 million to date; giving them the resources to develop and distribute their tech.
More about Snappt and Daniel
Snappt, a PropTech company offering fraud detection for property managers, today announced it has secured $100 million in Series A funding, led by New York-based global private equity and venture capital firm Insight Partners. The company's Series A funding continues the momentum of rapid growth Snappt saw in 2021, including apartment unit and revenue growth of +700%. The new investment will be used to accelerate product development, increase sales and marketing efforts and expand market reach.
Daniel Berlind is a real estate executive and the CEO of Snappt. Dan co-founded Snappt after running his own property management company and noticing a significant, industry-wide financial issue in the multi-family rental industry. Previously, Daniel was a professional baseball player for the Chicago Cubs and Minnesota Twins.