Chexy: Redefining Rent Payments

Coming to Canada, Liza Akhvledziani realized how important the profile of a renter is from the standpoint of a landlord. Being in Canada for 10 years now, she noticed that there has been no effort to change the process in moving. “The entire process from search to being able to get verified to pay rent is extremely lengthy and antiquated which made me question, why is it hard to find a rental in a city that you have been living in forever?” Liza questions. This led Liza to the idea of forming Chexy.

“Our original idea was to simplify the entire process and make it into an application,” Liza claims. However, they soon discovered that their initial focus was too broad. Even while it is still Chexy’s ambition to tackle all issues in the renting sector, the company is currently concentrating on delivering innovation to payments in the industry. “If you asked someone how they paid rent 40 years ago, they would probably reply with post-dated cheques, a method that is still prevalent today. But the times have changed, and we are on a mission to bring value and rewards to tenants, who are and will be renters for much longer than their parents,” Liza adds.

Coming from the payments industry, where Liza previously led Finance & Strategy for Square Canada, Liza noted that digital payments have been adopted in a wide spectrum of industries and have become a part of our lives. “During the pandemic, a lot of industries adopted measures such that payment could be done in a fast and efficient manner. However, nothing has changed with the payment side of the residential rental industry, where we are still required to deposit cheques or wire transfer,” Liza notes, “Not only does Chexy revolutionize rental payments via automation and easy roommate splitting, but it also provides tenants with value out of their rent payments like ability to build credit and earn rewards,” Liza adds.

Liza observes that the creation of Chexy was not without difficulty. “Our biggest challenge was negotiating with the right partners. I had an advantage as someone coming from the industry. However, operating in a B2C (business to customer) platform, challenges remain in building a robust and efficient GTM strategy – something we are working on right now as we gear up for our GA launch in April,” Liza emphasizes.

On February 2, 2023, Chexy will publish its alpha version in the hopes that Liza and her team will be able to get broad input on the functionality of the product and the overall user experience in order to further build Chexy’s future.

While Chexy has only recently joined ICUBE, Liza hopes that the programme will aid in their expansion of tackling the challenges in the renting industry. “If you are a renter in Canada looking to build your credit score or get the most out of your rent payments. Check out Chexy,” Liza informs.

For more information, visit Chexy’s website: https://www.chexy.co/home

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