Our Origin Story
What started as an idea for just another run-of-the-mill property management system quickly morphed into what would become the leading fraud detection solution on the market. But how did we do it?
Chapter 1
It all began when founders Dan and Noah thought they had a brilliant idea for a new property management software. Being real estate investors themselves, they recognized the necessity for a streamlined and user-friendly system to effectively oversee their properties. But one fateful meeting quickly revealed that what the multifamily industry really needed was a way to stop fraudsters from sneaking through the leasing process undetected.
Chapter 2
Having worked in the property management space for several years, our founders, Dan and Noah, witnessed the rise of fraud first-hand. You see, document fraud was becoming a big problem. Applicants everywhere were altering their bank statements and pay stubs, making it look like they made more than they actually did. These alterations were invisible to the naked eye, and property managers across the nation unknowingly approved these fraudulent applications – resulting in financial losses and evictions.
Chapter 3
And so Snappt was born — an AI-powered solution that can quickly and accurately examine hundreds of metadata components in a digital document and let the customer know if a document has been edited.
So we launched the product. And then people bought it. And then it caught the eye of investors at Insight Partners (notable backers of Calm, Shopify, and Hootsuite), who kept hearing about Snappt from people in the industry.
Chapter 4
Fast forward to today – Snappt is the leader in document fraud detection, trusted by 8 out of 10 NMHC property management companies. Our fraud detection algorithm has scanned over 8 million documents with a 99.8% accuracy rating, proving our commitment to providing the most reliable and efficient solution for property managers. We’re SOC 2 Type II compliant, further helping protect our customers from information fraud. We empower them to save time, reduce losses, and prevent evictions by catching fraudulent documents with our advanced AI-enabled technology.
Chapter 5
But our journey doesn’t end there. Our customers told us that identity fraud was becoming a huge issue – so we launched our advanced ID Verification solution in 2023. To further support their needs, we announced our all-in-one Applicant Fraud Detection and Income Verification Suite in June 2024.
We are committed to the constant innovation and evolution of our product, attentively listening to our customers’ needs to deliver an unparalleled solution for fraud detection and beyond.
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