Fintech
Home lending fintech moves in on $14.6 million Series A
The fintech charges just under 10% interest on loans between $300,000 and $4 million, along with a 1% establishment fee, with loans approved with a day and often in less than an hour. It will lend up to 80% of the value of the current property and is currently writing around $600 million in lending annually.
A typical loan is for around $1 million and repaid within four months.
Another proptech with a similar focus, Downsizer, banked $3.75 million in Seed round last year to help Boomers move house.
