Paying rent on your own schedule is a beautifully simple concept. We’re glad the team at Flex finally solved this challenge.
Most Americans receive paychecks biweekly while rental payments are due at the beginning of the month. It’s one part of the reason tens of millions of people are one injury, mishap, or accident away from falling behind. For a monthly fee, Flex will pay a renter’s lease payment when due, allowing the renter to repay that amount on a flexible schedule of their choosing over the course of the month. This arrangement guarantees a landlord will receive rent on time and in full while giving tenants financial flexibility. Since Flex functions as a credit line, timely repayment helps a renter build credit. Best of all, Flex’s technology makes the process seamless and frictionless for both landlords and tenants, which has made Flex one of the fastest–growing companies in our portfolio.
“Camber Creek helped me refine the idea for the product,” says CEO Shragie Lichtenstein, “and after introducing me to a number of their limited partners in the multifamily space, we received strong evidence of the types of buildings where Flex would be most attractive. It’s the type of insight that could have taken years of trial and error, but Camber Creek helped us find that fit before they even invested as a standard part of their due diligence process.”