Join us to participate in the upcoming 2019 City:One Challenge. 

At Qbitser, we help renters reduce a 2-3 week rental search to as fast as 4 hours, by using our pre-approval system and process.

Our platform helped over 300 renters avoid homelessness by allowing renters with bad credit compete for and become approved to lease.

Photo of Robert Sher
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Explanation: Based on the subject line: "City:One Indianapolis Challenge (Seeking Mobility, Fintech, Smart City and Micro-mobility Infrastructure Solutions)" our solution is for rental Mobility using FinTech. The primary goal of our technology is to solve mobility restrictions for renters who face challenges such as low credit, rental/background history, judgments such as foreclosure and eviction, and other Mobility challenges relating to housing qualification. Often times, landlords and property managers will not accept renters who face these types of challenges, however, we found a way our technology solves this challenge. We created and proven FinTech solution for the real estate rental industry in Chicago, and with your help and support, we would love the opportunity to offer our solution to Detroit and other urban areas of Michigan.

How will your solution benefit residents, workers, or visitors in the Michigan Central Station impact area? (1,000 characters)

Describe your solution's stage of development

  • Ready to Scale - you have completed and expanded your pilot and are seeing adoption of your solution by your intended user

Insights from previous testing (500 characters)

We found that renters are excited about the model and service and we’ve helped hundreds of renters, however, real estate agent adoption will remain low until our lead generation solution completed.

Tell us about your team or organization (500 characters)

Collectively, our team has experience in Finance, Marketing, Legal, and Software Development and our Team's bios are in the pitch deck provided with this submission.

Size of your team or organization

  • 2-10

Team or Organization URL

https://qbitser.com

Are you submitting as a student team?

  • No

Are you submitting as a team from the Impact Area?

  • No

Funding Request

  • $100,000

Rough Budget (500 characters)

While our 1st round cap is $600k, we’re only asking for $100k from your organization to accomplish the following in the next 12 months: $15K to complete the lead generation platform to feed leads into the Lead Conversion technology that we built $60K Marketing to promote renter solutions to local markets $22K in software process improvements to make sure the system is running smoothly and so that we can close service tickets in a timely manner $3K server/domain and other related costs

Describe how you would pilot your idea (1000 characters)

As soon as we get the funding, the existing team goes to work. Marketing: Rachel will head up marketing efforts by building out our YouTube channel and Google Ads to promote the brand to renters, and create a following before launching the crowdfunding campaign. Once we have at 50,000 followers, we’ll launch the crowdfunding campaign to raise the rest of the money by pre-selling access to our popular rental service and through revenue generated by the service. We anticipate that ⅓ of our revenue/funding goals will be reached through the orders we’ll receive from Google Ads, and the rest of our goal will be pre-sold from the crowdfunding campaign. Software: Sameer will work with the existing development team to learn from customer feedback to continuously improve UI/UX and the sales funnel to make for a smoother customer experience. I’ll do the oversight to help Rachel and Sameer accomplish their goals while keeping strict controls over how the money is spent.

Describe how you would measure the success of your pilot (1000 characters)

Our KPI’s are measured in renter subscriptions, revenue, and profit targets, as well as a fan base on social media. Our plan is to bring on more renters and continue to expand relationships with landlords to grow landlord participation on the platform so that renter-landlord connections remains within our target of 5-7 days, with an effort to drive that connection time down to consistently achieve same-day lease signings on our platform, regardless of the renter chooses renter-landlord direct or broker-assisted. Keeping to these KPI's tolerances will ensure renter, landlord, and agent engagement for the ongoing success of the business and platform.

Sustainability Plan (500 characters)

The idea has been sustained for 4 years, it has remained profitable, and currently has subscribers. As mentioned earlier, our plan is to continue to build are social media, google, and youtube presence in order to continue to bring renter subscribers to the platform.

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Photo of Mackenzie Fankell
Team

Robert Sher Thank you for sharing this proposal! I am a Michigan Central Station Challenge facilitator. It sounds like a great solution to facilitating property rental for people with poor credit. Can you tell me a little bit more about how you envision that this solution will address the challenge question?

How might we improve mobility for residents, workers, and visitors of the Michigan Central Station Impact Area today while also preparing for the future of the area?

Also, how do you envision that this solution will be implemented in the challenge's specific impact area? Thank you!

Photo of Boratha Tan
Team

Hey Robert Sher I work with Mackenzie as facilitator. Piggy backing off her good questions, I was wondering if you can add more info to the Pilot section of the proposal. Would you also be reaching out to people face-to-face? I'm sure that there is a portion of renters that do not have adequate access to the internet. This can definitely affect how well your vision is for the community's social mobility!

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