Expands customer base by launching suite of features to meet the needs of large landlords and their property managers
Today, to mark the one-year anniversary of our product launch, we’re excited to announce customer and revenue growth milestones as well as our rebrand from Zibo to Azibo. Azibo will continue to serve as the free one-stop-shop financial platform for the independent landlord ecosystem.
Just over one year ago, we launched a brand new platform to help landlords save time, stay organized, and achieve passive income. Since then, we’ve achieved significant traction, including:
- $130M annual run rate in platform transaction volume
- 36% average month-over-month growth in platform transaction volume
- 2X quarter-over-quarter customer growth with 7,300+ monthly transacting users
- 5X growth in insurance premiums sold Q1-Q3
- $1M+ in insurance premiums closed
- $2M+ in mortgages and loans closed
- $1.6M+ in banking cash deposit balances
- $1M+ run rate in revenue by end of 2021
Over the last year, we’ve scaled our platform with financial tools including online rent collection, bill payments, and expense management as well as full-service online banking with a cash-back debit card. The company is also a nationally licensed landlord insurance producer, offers competitive mortgages and short-term loans, and created a Marketplace featuring best-in-class partners to complement our solutions. This broad product offering expands our customer base beyond independent landlords to also include renters, property managers, and vendors.
Going from Z to A with our rebrand to Azibo
To signify the next stage of our company journey, as of today we’re changing our name from Zibo to Azibo. We’re going from the end of the alphabet to the beginning, refreshing our brand as we scale the platform, reach more customers, and grow our team.
“With our expanded platform, we’re truly the one-stop-shop for rental property finances — providing landlords, renters, property managers, and vendors with everything they need from A to Z,” said Chris Hsu, CEO and Co-Founder of Azibo. “I’m incredibly proud of all that our team has achieved in just one year and look forward to this next phase of company growth.”
New solutions for larger landlords and renters
Based on customer demand, we’re also excited to launch a suite of features for large landlords and their property managers. Our robust solutions enable rental property owners who manage 10-250 units to better monitor their portfolio’s financial performance, partner with property managers, and automate manual processes — all while improving their profit margins with Azibo’s free platform.
Our new features for large landlords and their property managers include:
- Shared account management: Landlords can create portfolios of specific properties in Azibo, allowing them to get full visibility of their real estate investment while only giving property managers access to the properties they manage.
- Vendor payments: Landlords can make free online payments from their Azibo bank account to contractors, plumbers, property managers, and any other vendor.
- Use Azibo as an LLC: Landlords can sign up for Azibo using their LLC or DBA (Doing Business As) trade name instead of their personal name.
- Onboard more tenants at once: In addition to our free self-serve tenant onboarding, we’re now also offering a premium bulk onboarding service to help large landlords easily switch their tenants to Azibo’s rent collection platform for just $25/tenant. For a limited time, we’re offering this service to eligible landlords for free for up to 20 units (a $500 value).
On the tenant side, we’ve also created unique offerings for Azibo renters, which include:
- Online rent payments: Tenants can make secure one-time or automated rent payments using flexible payment methods, including ACH transfer, credit card, or debit card.
- Rent payment history: Renters can track rent payments and security deposits in real-time and view their rent payment history.
- Exclusive services: Azibo renters also have access to discounts on best-in-class services in our Marketplace, including renters insurance and rent reporting.
Scaling into our next chapter
This announcement underlines our company mission — to empower anyone to build wealth with investment properties. Our innovative, modern tech tools level the playing field and simplify rental property ownership for independent landlords, renters, property managers, and vendors.
As our company journey continues, we’re excited to grow our team, scale our all-in-one platform to meet the unique needs of the landlord ecosystem, and fundamentally improve the rental property financial experience.