MVF is excited to welcome Circa Labs to its portfolio

Circa is an innovative payments technology company, and has raised $2M to accelerate its growth in the residential rental industry. This raise comes just after graduating from the first Techstars cohort hosted by the Roux Institute in Portland. Circa, which was not Maine based prior to Techstars, is setting up their headquarters in Brunswick, Maine. 

Circa is a mobile and web-based platform designed from the ground up to change the way rent is managed - with choice, convenience, inclusion, and respect. Circa enables residents to easily pay their rent on a flexible schedule so that they are able to pay in full and on time every month. For property owners, Circa simplifies the rent collection process and increases on-time rent and arrears collection.

With 75% of rent payments still made by check, Circa modernizes the process and has shown an average of 4X improvement in both on-time rent and arrears collection. There are 3.5 million households in the US behind on their rent and/or at risk of eviction. With solutions based on flexibility, choice, and mutual respect, Circa aims to strengthen communities through payment innovation.

Earlier this month, it was announced that Maine Venture Fund made a three year commitment to support startups coming out of Roux’s programs and accelerators. This represents Maine Venture Fund’s first investment in such a company. MVF is excited to play a role in Circa’s decision to stay and grow in Maine!

Read the full press release in TechCrunch.

To learn more about Circa, or to bring Circa to your property, click here. 

About Maine Venture Fund

Maine Venture Fund invests in dynamic businesses that have the potential for significant growth and impact in Maine. For more information, visit maineventurefund.com. 

Inquiries:
Terri Wark
Maine Venture Fund
(207) 924.3800
terri@maineventurefund.com