Start-up lets property investors access rental income early

Fintech lender Futurerent, which offers property owners up to $100,000 of their rent in advance, has banked $9 million in its latest funding round after growing its loan book 10 times in the past financial year.

Mr Dinh said it only took a month to close its latest raise, despite the challenging broader market conditions for start-up funding. Mr Dinh, who would not reveal the size of Futurerent’s loan book, said it had a high rate of approval.“We deliver a simpler experience for property investors, and it’s not tied to their loan to value ratio,” he said.

“Investors have been more insulated from the interest rate increases than owner occupiers because their costs have been offset by increasing rents,” he said.“I expect there’s still going to be a lot of demand from investors, especially when they look to certain markets with great rental growth, infrastructure spending and the opportunity to positively gear property in an inflationary environment.

Source: News Formal (newsformal.com)

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