South African tech start-up, Flow is a platform through which tenants are not only able to pay their rent on time, they are also rewarded for registering, adding property details and overall maintenance of the apartment.
Founded by three South Africans, Flow- Gil Sperling, Daniel Levy and Jonathan Liebmann, the app is also useful in reducing the stress around documentation and certain risks associated with landlord-tenant relationships. The usual trend between landlords and tenants are middlemen who do well to exploit both parties with their high commission rates. However, flow rather rewards tenants with 20 percent rebate in rent and vouchers for prompt payment and good tenant behaviour.
Speaking on the initiative, Sperling said “the app will enable landlords and tenants to communicate and to rate one another. A tenant will get rewarded for paying their rent on time in the form of a rebate.”
“We have also created vouchers for good tenant behaviour. Tenants can also buy household goods online. So, essentially, Flow is a platform which digitizes living at home. It ultimately makes the cost of living cheaper,” he added.
Outside revolutionising the way tenants rent, and live, Flow is also helpful for those in search of accommodation by providing a few property options.
Flow has raised 20 million rand in South Africa’s biggest seed investment for the new industry to date. Also, the company’s seed capital was raised by two key investors; the first 10 million rand was from an American venture capital investor and another 10 million rand was raised from South African tech fund, Kalon Venture Partners.
Two of the founders, Sperling and Levy were in charge of Popimedia, one of South Africa’s most successful ad-tech companies.