Wayhome Secures Funding to Transform Homeownership Access
Wayhome, an innovative company based in London, UK, has made strides in the housing market by offering a unique hybrid part-buy part-rent model. This model provides an alternative for those who find traditional home financing options restrictive. Recently, the company successfully secured £8 million in Series A funding. The investment round was spearheaded by prominent existing investors such as Allianz X and Augmentum Fintech, while also welcoming new funders including Volution, Love Ventures, and Cur8 Capital. This financial boost is set to pave the way for exciting developments within the company.
Under the leadership of CEO Nigel Purves, Wayhome is known for its Gradual Homeownership initiative.
This program allows potential homeowners to purchase a property valued at up to ten times their household income with just a 5% deposit. What sets Wayhome apart from traditional mortgage solutions is its commitment to helping buyers without the necessity for a mortgage or any additional borrowing. This innovative approach is geared towards easing the path to homeownership for many individuals who may otherwise struggle to secure a mortgage in today's competitive market.
Currently, Wayhome operates with an impressive annual deployment rate of £100 million in customer property acquisitions. The company's strategic plan is to leverage the recently acquired funds to forge stronger partnerships with mortgage brokers and lenders over the coming months. With an ambitious goal to double its annual property purchase rate to £200 million within a year, Wayhome aims to significantly expand its reach and impact. This growth initiative will not only benefit the company but also provide more opportunities for individuals looking to achieve their dream of homeownership.
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