Problem

Cobblestone addresses application fraud and bad debt in multifamily housing. Institutional landlords face increasingly sophisticated identity, synthetic-identity, and income fraud that is difficult to detect, while conventional screening can leave leasing teams reviewing applications manually, making errors, slowing approvals, and admitting residents who later become delinquent. The pain is economically material: one industry source reports that one in eight rental applications contains some form of fraud, while another found that only 17% of companies had a portfolio-wide fraud-prevention initiative. The killer use case is screening a high volume of multifamily rental applications quickly enough to improve leasing velocity without sacrificing fraud controls or tenant quality.

Product / Service

Cobblestone is an all-in-one tenant-screening and leasing software platform. It combines workflow automation with end-to-end screening, including identity verification, automated income verification, credit, criminal, and eviction checks, and analysis of application data in one place. Its income-verification tools use AI-powered document scanning plus bank and payroll linking, while integrations with property-management systems allow operators to add the platform to existing workflows. The intended benefit is a faster, more consistent, and more auditable leasing process that reduces human error, bad debt, and staff workload, with setup in minutes and limited retraining for leasing teams.

As of June 2026, Cobblestone had been acquired by rental-screening company 100 in a cash-and-equity transaction funded by existing revenue. The Cobblestone name was slated to be retired, with its capabilities folded into 100’s verification and underwriting platform, so the product is best understood as technology that has transitioned into a broader rental-screening offering rather than as an independent standalone vendor.

Market

Cobblestone competed in proptech software for multifamily tenant screening, rental-application fraud detection, income verification, and leasing-workflow automation. Its direct competitive set included document-fraud specialist Snappt and broader screening-workflow providers such as ApproveShield and Findigs; large established tenant-screening providers such as Experian also address adjacent parts of the market. Cobblestone’s differentiation was the combination of fraud detection, income verification, broader background screening, workflow controls, and property-management integrations in one platform, rather than a single document-checking tool.

The company was founded in 2023 by former Ramp engineers Jason Scharff and Jack Mastrangelo, went through Y Combinator’s Winter 2023 batch, and was described as serving institutional landlords. Its acquisition by 100 is the clearest evidence of commercial traction and strategic value, although the acquisition price was not disclosed and the available evidence does not provide Cobblestone-specific revenue or customer counts. Around the transaction, 100 said it had become a preferred partner to operators including Asset Living, Knightvest Residential, and RAM Partners, whose customers reportedly saw a 67% increase in application velocity and a 35% drop in delinquency; those outcome figures are reported for 100 and should not be attributed exclusively to Cobblestone.