Wayhome offers Gradual Homeownership, a hybrid part-buy, part-rent model that lets customers buy homes worth up to 10x household income with a 5% deposit and without requiring a mortgage. Led by CEO Nigel Purves, the company deploys capital to purchase customer properties and currently has an annual deployment rate of £100m. Wayhome plans to use the £8M Series A to deepen partnerships with mortgage brokers and lenders in the coming months. The raise is intended to help the leadership team double deployment to £200m per year within 12 months. Investors in the round include existing backers Allianz X and Augmentum Fintech alongside new funds Volution, Love Ventures and Cur8 Capital. The company is based in London. Wayhome offers a product called Gradual Homeownership, a hybrid tenure that lets customers buy a home with a 5% deposit and no mortgage, enabling purchases up to ~10x income. The company says it does not charge customers fees and instead earns contractual, long-term revenue from pension funds that invest in the homes. Revenue comes from a purchase fee (1% while deploying the initial £75m fund, reverting to 2% thereafter) and a 0.8% annual management fee on capital invested by pension funds. Since launching in September 2021 the firm has completed 65 homes, has the next 100 offers accepted and says it has helped over 150 families. Wayhome reports an estimated potential gross profit of approximately £30k per home over a projected 12-year holding period. The company is incorporated in September 2016 and is based in London, UK. Unmortgage is a London startup offering a 'part-own, part-rent' product that enables customers to purchase as little as 5% of a home and rent the rest, avoiding a conventional mortgage. The company aims to launch next year and has just closed a £10 million seed round to support that rollout. Properties are revalued monthly so customers always have an up-to-date valuation when increasing their stake, and customers can buy more equity "from as little as a pound" at any time. Rent on the portion not owned is pegged to inflation, with an option for customers to request a rent review if inflation outpaces market rents. Customers can buy out Unmortgage with a mortgage or inheritance, or give three months' notice for Unmortgage to buy them out at market price. Unmortgage plans to use institutional funding to finance its share of purchased homes, targeting institutions that want residential exposure without acting as landlords.

Total raised

$27M

Funding rounds

3

Latest round

Series A

Latest activity

Apr 2023