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multifamily software company, 100, is launching a system to screen apartment renters, similar to TSA PreCheck. The firm has partnered with Clear, a biometric security company, to verify prospective tenants through the Verified Renter Network. This initiative aims to reduce fraud and security risks for property owners, who often face fake pay stubs and references in rental applications.

    The network requires renters to pass a background check, including credit and rental history verification, employment confirmation, and income assessment. Clear members can sign up now, with free access available to those in the Clear Plus tier. The company's co-founder and CEO, Caren Maio, says 100 is providing much-needed relief for multifamily operators burdened by record levels of fraud and debt.

    The launch comes after a survey found that 84% of property owners reported encountering fake documents in rental applications. 100 has raised $5.2 million in pre-seed funding from venture capital firms like MetaProp and Freestyle Capital, the largest amount ever for a proptech firm in the US. Maio co-founded 100 with chief technology officer Vishal Patel, who previously worked together at Funnel Leasing, a company that later became Nestio and raised over $16 million before rebranding to Funnel.