4 years ago

Proportunity Secures £105 Million to Help First-Time Home Buyers in UK

  • Proportunity, a UK-based fintech company, has raised £105 million in debt and equity funding to help first-time home buyers and 'second steppers' purchase properties

  • The funding round was led by VentureFriends, Kibo Ventures, and existing investors Anthemis, Entrepreneur First, and Amro Partners

  • The investment will enable Proportunity to grow its team and help more than 2,000 individuals and families buy their first home or progress up the property ladder

  • Proportunity's equity loans allow buyers to afford homes with only a 5 percent deposit, reducing the amount they need in savings

  • The company's machine learning technology helps identify fair-valued homes in high potential growth areas, de-risking lending and removing the need for a large deposit.

      • ProblemFinancial Services

      "85% of renters in the UK want to own a home but can't afford the high deposits and rising prices, a problem only partially addressed by the government's Help to Buy scheme, which is set to end soon."

      Solution

      "Proportunity offers loans similar to Help to Buy, allowing buyers to purchase any home with a 5% deposit and borrow up to six times their income, bridging the gap between traditional mortgages and rising house prices."

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