Residential rent-to-own specialist Unmortgage has raised £10 million to help scale the business.
The UK-based LendTech startup saw investment from Augmentum Fintech - which put in £2.5 million - alongside existing investor Exponential Ventures, and others.
Unmortgage will offers a unique part-own part-rent model of home ownership, requiring as little as 5 per cent deposit, with customers paying a market rent on the portion of the home that Unmortgage owns, as well as the ability to increase the equity in the property as financial circumstances allow.
The new funds will take the team from 12 to 40 people before the end of the 2018, prior to launch in 2019.
Tim Levene, chief executive of Augmentum, said that in too many cases home-ownership remains out of reach for people, and the Unmortgage model addresses in an innovative way how people can access the homes they both need and want.
“The business is also attracting FinTech talent who want to participate in a business that has at its heart a social purpose,” he added.
Latest News
-
UK regulators launch inquiry into Big Tech digital wallets
-
Citi taps Barclays for new commercial head
-
Santander launches digital sign language service
-
Anne Boden steps down from Starling board to 'develop AI business'
-
NatWest payments arm partners with JD Wetherspoon
-
Government stake in NatWest drops below 20 per cent
Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.
Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.
Click here to read the 2023 State of the Phish report from Proofpoint.
Click here to read the 2023 State of the Phish report from Proofpoint.
Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.
Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories