Futurerent provides property investors with access to rental income in advance, offering advances of up to $100,000 to help fund deposits and purchases. The Sydney fintech launched in 2019 and has advanced more than $25 million to property investors, primarily for deposits on new property purchases. Futurerent says it leverages proprietary technology and an abundance of Australian data to underwrite and price advances. The company is launching a US division called Downpayments, tailored to finance down payments and to offer buyers agency services. Downpayments will begin serving property investors in Florida with plans to scale throughout the US. Futurerent secured debt funding to support this US expansion. Futurerent offers property investors the ability to receive an advance on future rental income, with applications taking minutes and payouts in about two days. The firm can advance up to hundreds of thousands of Australian dollars against future rent and charges a flat 6% annual rate on advanced rent. Founded in 2019, Futurerent says it has experienced rapid growth and reports no losses and zero defaults since inception. The product is positioned to help landlords fund property improvements or buy additional properties by unlocking rental income early. The company cites specific examples of lending capacity (for instance, a landlord receiving AU$450 per week could access roughly AU$47,000 for another property or AU$23,000 for renovations). Futurerent plans to use new capital to expand its national presence, launch new products, and build further partner integrations.

Total raised

$56M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Jan 2024