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March 29, 2023

Matrix Rental Solutions debuts office in Stamford

PHOTO | CONTRIBUTED Matrix Rental Solutions Founder and CEO Sipho Simela cuts the ribbon at the company's new Stamford headquarters on March 28, 2023.
By Liese Klein

Matrix Rental Solutions, a startup fintech company that aims to improve access to affordable housing, opened its new headquarters in Stamford on Tuesday.

Founder and CEO Sipho Simela relocated the company to Stamford from New York after landing funding from Connecticut Innovations to expand and develop the firm’s technology in the state. The amount was not disclosed.

“I look forward to going far, together with the entire Stamford community, and helping drive innovation in the state of Connecticut and across the country for the biggest challenges facing the rental housing market today: access and affordability,” Simela said. 

The company uses AI to automate tenant screening by gathering asset, income, employment and credit verifications and flagging bad data to ensure that applicants are fairly evaluated. Matrix seeks to create a scoring system and standardized housing application that would simplify the application process for both tenants and landlords.

Alison Malloy, managing director of investments at Connecticut Innovations, said the company meets a need for a better process to secure housing in the state. 

“We believe that Matrix Rental Solutions has the potential to make a real difference in the lives of millions of people, and we look forward to supporting them as they grow,” Malloy said in announcing CI’s funding earlier this month.

Matrix Rental Solutions’ new office is located at 700 Canal St. in Stamford. Mayor Caroline Simmons attended the ribbon-cutting, which was hosted by Serendipity Labs. 

Contact Liese Klein at lklein@newhavenbiz.com.

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