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A year of growth: inside Chexy’s impact on rental payments

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A year of growth: inside Chexy’s impact on rental payments

How a DMZ startup processed $30 million in rent and helped users earn $1 million in cashback and rewards. 


Rent is easily one of the heftiest expenses we all endure. Month after month, an eye-watering sum is removed from our bank accounts. 

In the past year, Canada has seen rent jump 10.5% on average, and Canada’s housing affordability crisis has left renters with no choice but to swallow costs. 

Canada is becoming a nation of renters, and Co-founder and CEO of DMZ startup Chexy, Liza Akhvledziani, decided to take matters into her own hands by giving Canadians something to show for their largest monthly expense.

“I had been a renter in Canada for way too long and was fed up with landlords asking for cheques and not being able to benefit from paying my largest expense on time every month,” said Liza Akhvledziani Co-Founder and CEO of Chexy. “So I thought, what the hell. If nobody else wants to try this — I will.” 

The first tenant-facing payments platform that allows renters to earn rewards and build credit on rent, Chexy has empowered Canadians to no longer look at rent as just another budget line but an opportunity to earn rewards and cashback.

And spoiler alert, people are loving it. In their first year, Chexy processed an outstanding $30 million in rent, and users earned an estimated $1 million in cashback and rewards.

Getting to where they are today hasn’t been a total walk in the park, Akhvledziani explains. “We’ve had our fair share of “oh shit” moments like any startup, but it’s incredible to see the true value we are delivering to our users,” said Akhvledziani

By empowering renters to pay via credit card, Chexy users can unlock credit card loyalty points, cashback and rewards faster. But don’t just take our word for it; here’s what a few Chexy users had to say. 

Chexy user Samir Patel has earned $600 in cashback in just five months by paying rent on the platform.

“Using Chexy has given me the financial freedom to buy extra things or cover my rent partially for a month.”

 

Since joining Chexy, Brayden Dobson has earned enough points to cover most of his vacations in Mexico, Spain, and Vancouver.

“I am saving 90% off the cost of flights compared to if I paid cash.”

 

After landing in Canada 5 years ago, Andrew Royal struggled to pay rent via e-transfers due to the maximum daily limits on his account. With Chexy, Andrew doesn’t stress about transfers and is racking up points for an upcoming trip.

“Being able to use my credit card has been a game changer. For the past year, I have been able to make payments on time, every month and get rewards — just for paying my rent.”

 

Chexy stayed true to its mission: to make rent payments easier and more rewarding for everyone involved. They saw how outdated rent payments were and decided to do something about it.

Looking ahead, Chexy plans to expand its offerings to offer rewards for additional household expenses and, eventually, empower tenants to become homeowners. “Rent is just the beginning; we plan to help users earn rewards on expenses like utilities, tenant insurance and wifi. But, beyond that, another major goal at Chexy is to help our tenants become homeowners with fewer hurdles at a better rate,” said Akhvledziani

With big plans for the future, Chexy is proving that startups can change the game, one rent check at a time.

For those eager to maximize rewards on their largest monthly expense, Chexy is awarding a sign-up bonus of up to $500 CAD that new users can put towards their first month of rent paid on the platform.


Those who are new to Chexy and sign up for an account between March 18 and March 31 will qualify to receive the bonus. Sign up at Chexy.co.

Unlocking DMZ’s benefits, from a $10K entry grant and travel subsidies to free legal support

As a #1 ranked incubator globally, DMZ has a lot to offer, and we pride ourselves on not only talking the talk but also walking the walk. We support the most promising and high-impact tech entrepreneurs who have what it takes to scale their businesses. But don’t get it twisted; we know it takes two to tango.

That’s why startups that join DMZ’s Incubator receive world-class programming and services. To us, that means real, tangible support. 

To start, startups accepted into our Incubator program receive a $10,000 entry grant to help kick-start their journey with us. While we know $10,000 can help with product development, a targeted marketing campaign, training and development or new infrastructure, we can also appreciate that $10,000 is a drop in the bucket. 

Beyond DMZ’s entry grant, startups receive personalized support with customer acquisition and fundraising, unlimited 1 on 1 coaching sessions from our Experts-in-Residence, pro-bono professional services, exclusive pitch competitions, access to the Student Work Placement Program, grant research and writing, startup perks and discounts valued at over $1 million, help with SR&ED tax incentives, free financial plan model custom built by a CFO, free UX design support,  24/7 office space and full-service amenities… the list goes on and on. 

So, how do all these program perks support startups with expenses, and —more importantly — how have they empowered startups to level up? We thought you’d never ask. 

Here are just a few ways DMZ’s Incubator can help your startup’s bottom line. 

Explore new markets without breaking the bank.  

Building a thriving business requires startups to go global, and DMZ helps founders cover travel costs for opportunities abroad through Mitacs Entrepreneur International. We’re committed to inspiring our founders to explore untapped markets and have been thrilled to see founders delve into opportunities abroad.

SoftDrive (Incubator ‘22) received $15,000 to travel to London, New York City, Japan and San Francisco to tap into international markets, meet with VCs, secure customers and attend global conferences

Lightster (Incubator ‘23) received $5,000 to travel to London to attend Techspo London and successfully secured a sales-qualified lead.

 

Fuel your research and level up your product. 

Strengthen your startup’s innovation capabilities through the Mitacs Business Strategy Internship. As a Mitacs partner, DMZ supports founders with the program to harness cutting-edge research to commercialize new products and gain a competitive edge in the market.  

Charmy Pet (Incubator ‘22) received $9,000 to research the health benefits of traditional Chinese herbs for pets, which led to the successful commercialization of a new product line available in over 450 specialty pet stores across Canada today.

 

Access essential legal services from day one. 

DMZ’s Startup Legal Support gives founders fully subsidized in-house legal services. We know how crucial legal support is for early-stage founders, which is why startups who come to DMZ don’t need to worry about cutting corners and instead can have legal processes in place from the get-go. 

To date, Startup Legal Support has saved founders over $600,000 in legal fees, helping them with legal matters, including corporate cleanups, intellectual property, stock option plans, term sheet reviews, share sales, terms of use, privacy policies, service agreements, customer contracts and more.

SoftDrive (Incubator ‘22) was able to save over $35,000 in legal fees.

XpertVR (Incubator ‘22) was able to save over $28,000 in legal fees.

Leasey (Incubator ‘24) was able to save over $25,000 in legal fees.

 

Save on startup must-haves.

DMZ’s perks and benefits provide discounts and fully subsidized tools for founders to save money on the essentials. From founder mental health, AWS Credits, financial services and more, DMZ startups receive perks from 170+ service providers worth over $1 million in business savings. 

Sitemax (Incubator ‘25) received $25,000 in AWS credits, allowing them to re-allocate resources to hire a new Business Development Representative for their team.  

Kaitongo (Incubator ‘24) received $25,000 in AWS credits, allowing them to make product enhancements.

Take part in exclusive pitch competitions. 

DMZ Incubator startups have the opportunity to participate in exclusive startup pitch competitions for the chance to showcase their business and secure grant funding. DMZ handed out $65,000 in grant funding to Incubator startups this summer.  

Chexy (Incubator ‘24) received $50,000 in funding, which helped them improve customer experience and expand their landlord offerings. 

Formaloo (Incubator ‘24) received $15,000 in funding to support their continued expansion with the new release of Formaloo 3.0.


Subsidize your team’s wages. 

Members of DMZ’s Incubator program get access to the Government of Canada’s Student Work Placement Program, which allows startups to subsidize student wages.

Lightster (Incubator ‘23) was able to subsidize $20,000 in wages, which covered 3 student placements, one of which did two terms. 

Want to learn more about how DMZ’s Incubator can help your startup through coaching, mentorship, programming and benefits? Head to dmz.to/Incubator to learn more and apply today.