Already recognized for its expertise in document fraud detection thanks to an artificial intelligence that has already analyzed over 14 million files since its creation in Los Angles in 2016, with 99.8% accuracy, Snappt is now taking a major development step. The acquisition of Trigo, combined with the raising of $50 million, illustrates its ambition to offer the most comprehensive platform on the market for securing rental decisions. Thanks to Trigo's technology, Snappt provides property owners with a new decisive element in the evaluation of applicants: verified proof that rents have been paid in the past. Combined with the solutions already deployed by Snappt to detect forged bank statements, pay slips or other falsified documents, this additional asset enables a faster, more reliable response to applicants, while drastically reducing the risk of unpaid rent and evictions.
The financial backing of Hercules Capital confirms Snappt's solidity and potential. Hercules Capital only finances solid companies with stable revenues and a well-established customer base. In just a few years, Snappt has avoided over $1.9 billion in potential bad debts, protecting over 2.2 million homes across the US. This success has been reinforced by solid partnerships, notably with Mastercard and Tenant Cloud.
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