StepLadder is a London-based collaborative deposit-raising platform that helps renters save for first-home deposits through peer-to-peer groups. It uses a Rotating Credit and Savings Association (ROSCA) model, placing members into small "circles" where identical monthly contributions (€29–€1,150) are pooled and awarded by computer-random draw. StepLadder reports that 87% of its members save for their deposit faster than if they were saving alone, awards €58k to members each month, and has over €578k in subscriptions from members in total. Beyond deposit-raising, the company provides specialist guidance, exclusive discounts, and a new app that connects members and supports users through the home-buying process. The recently announced €1.7 million investment and non-financial support will fund development of its next-generation collaborative finance platform and drive UK and international expansion. StepLadder’s model and community focus aim to help struggling renters move toward homeownership.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2019