Deposify
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Deposify was a Dublin-based fintech founded in 2014 by Jon Bayle and David Brennan. Its 'escrow as a service' platform let landlords, tenants and letting agents manage and control how and when rental deposits were paid, and resolve deposit-related disputes quickly - storing deposits in a third-party account via a mobile app. The company expanded to the US with a Boston headquarters, signed its first US bank partner (People's United Bank) and partnered with Fortune 500 insurer Assurant.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
Jon Bayle and David Brennan founded Deposify in Dublin, an escrow-as-a-service platform for rental deposits, raising €1.1 million from Escher Group, Enterprise Ireland and angel investors.
- US expansion
Deposify signed its first US bank partner, People's United Bank, opened a Boston headquarters, and partnered with Fortune 500 insurer Assurant to reach its property management clients.
- Acquired
Deposify was acquired by Dallas-based private equity firm Sunriver Ventures, then sold on in a multimillion-dollar deal in November 2022; separately, Rhino entered a definitive agreement to acquire Deposify's technology and assets.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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