Reposit offers renters and landlords an innovative insurance policy backed by leading insurance firm Canopius. Replacing the traditional six week deposit required for residential lettings with a simple one-week’s fee, it offers increased flexibility to both renters and landlords but with the same security for landlords as the traditional deposit scheme. It has funded its growth using only Angel rather than VC backing.

In 2019 Reposit entered into a distribution deal with utility and agency management software platform, Tenant Shop, to distribute their rental-deposit alternative product to over 1,000 letting agents that use Tenant Shop. Since then it has continued to grow its user base and has been profitable for several years.