Fronted
Building a better way to move, starting with rental deposits.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
| investor | €0.0 | round | |
* | £1.0m | Early VC | |
| Total Funding | 000k | ||
| GBP | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| % profit margin | - | - | (7989 %) |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Fronted was a financial technology company that provided a credit product for renters, specifically targeting the rental market in the United Kingdom.
The company's primary service was to finance rental deposits, allowing tenants to pay a large upfront security deposit in smaller, more manageable monthly installments over a 12-month period.
This model was designed to ease the financial burden on renters, who are its main client base. By leveraging open banking and other financial technologies, Fronted could assess a renter's creditworthiness and offer them a loan to cover their deposit.
The company's revenue was generated through the interest and fees charged on these loans. Despite securing over £20 million in funding and partnering with industry players, Fronted ceased operations in August 2023. The closure was attributed to the rising cost of capital, which made it impossible for the company to offer its product at a competitive price.
Keywords: rental deposit, fintech, credit products, open banking, property technology, proptech, tenant financing, real estate, lending, financial services