Co-Living Tenants to Get Zero-Deposit Move-In Options with Crib App

Property Pulse 

Crib App (Purple Stack Ventures Private Limited), an AI-powered property management platform for co-living spaces, hostels and paying guest (PG) accommodations, has acquired rent-financing startup CirclePe to integrate embedded finance into the rental lifecycle. The acquisition will allow eligible tenants to move in without paying a traditional security deposit, while operators receive rent and deposit amounts financed upfront. 

The move aims to address two key challenges in India's rental market: high upfront security deposits for tenants and fragmented cash flows for operators. Instead of paying a lump-sum deposit, creditworthy tenants can opt for smaller monthly instalments through partner NBFCs, helping them retain liquidity while avoiding delays in security deposit refunds when moving out. 

The integrated platform also offers a digital rental experience, enabling tenants to complete e-KYC, execute digital rental agreements, pay rent through UPI, credit cards or bank transfers, raise maintenance requests and access transparent utility billing based on sub-meter electricity readings. 

For operators, the acquisition ensures predictable upfront cash flows by financing rent and deposit gaps. According to Crib, the integration will enhance its underwriting capabilities by leveraging operational data such as payment behaviour, occupancy trends and move-out history for more accurate credit risk assessment.