Romania Insider
Fintech launched by Romanians in London raises GBP 2 mln for development

London-based fintech company Proportunity, launched by two Romanian entrepreneurs, has raised a GBP 2 mln seed investment to drive its analytics and lending platform that offers home equity loans to first-time buyers. The startup is the only ‘Help to Buy’ challenger to date that has actually helped consumers own homes.

Since getting authorized by the Financial Conduct Authority (FCA) in 2018, Proportunity has grown to over 5,000 users and lent on properties worth over GBP 10 mln.

Besides scaling its customer base, this latest funding will help the startup grow its network of partnerships with real estate agencies and mortgage brokers. The funding comes from Anthemis, the fintech investment fund behind eToro and Betterment, alongside Axel Springer Digital Ventures, an early stage investment unit of Europe’s leading digital publisher Axel Springer.

Proportunity helps first-time house buyers get easier financing by providing equity loans similar to the Government’s Help to Buy scheme. The fintech typically lends 15% of a property’s value meaning a buyer with a 5% deposit can secure the 20% down payment required for most mortgage providers, helping buyers afford homes worth up to GBP 150,000 more expensive than they would on their own. Moreover, Proportunity can also help people identify good value properties in up-and-coming areas through its predictive AI technology and analytics platform which act as a digital buying agent.

The startup was launched in 2016 by Romanians Vadim Toader, formerly of Bain & Company, and Stefan Boronea, formerly of Booking.com. Prior to this investment round, the start-up also secured VC backing from Starwood Capital, Savills and Global Founders Capital, now totaling GBP 3.7 mln to date, excluding their debt funding.

[email protected]

(Photo source: Pixabay.com)

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Romania Insider
Fintech launched by Romanians in London raises GBP 2 mln for development

London-based fintech company Proportunity, launched by two Romanian entrepreneurs, has raised a GBP 2 mln seed investment to drive its analytics and lending platform that offers home equity loans to first-time buyers. The startup is the only ‘Help to Buy’ challenger to date that has actually helped consumers own homes.

Since getting authorized by the Financial Conduct Authority (FCA) in 2018, Proportunity has grown to over 5,000 users and lent on properties worth over GBP 10 mln.

Besides scaling its customer base, this latest funding will help the startup grow its network of partnerships with real estate agencies and mortgage brokers. The funding comes from Anthemis, the fintech investment fund behind eToro and Betterment, alongside Axel Springer Digital Ventures, an early stage investment unit of Europe’s leading digital publisher Axel Springer.

Proportunity helps first-time house buyers get easier financing by providing equity loans similar to the Government’s Help to Buy scheme. The fintech typically lends 15% of a property’s value meaning a buyer with a 5% deposit can secure the 20% down payment required for most mortgage providers, helping buyers afford homes worth up to GBP 150,000 more expensive than they would on their own. Moreover, Proportunity can also help people identify good value properties in up-and-coming areas through its predictive AI technology and analytics platform which act as a digital buying agent.

The startup was launched in 2016 by Romanians Vadim Toader, formerly of Bain & Company, and Stefan Boronea, formerly of Booking.com. Prior to this investment round, the start-up also secured VC backing from Starwood Capital, Savills and Global Founders Capital, now totaling GBP 3.7 mln to date, excluding their debt funding.

[email protected]

(Photo source: Pixabay.com)

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