Futurerent
A loan-free alternative to the banks, that gives property investors up to $100,000 of their rent, paid in advance.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor investor investor investor investor | €0.0 | round | |
* | AUD50.0m | Debt | |
| Total Funding | 000k | ||
| USD | 2021 | 2022 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 153 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Futurerent, a fintech company established in 2019, provides a non-dilutive financing solution specifically for property investors in Australia. The company was founded by Daniel Foggo, who brought his experience from roles as CEO of RateSetter Australia and Head of Strategy at Barclays in London to address a specific need in the real estate market. His background in finance and peer-to-peer lending informed the creation of a product designed to smooth out cash flow for property owners without the complexities of traditional loans.
The core of Futurerent's business is advancing up to $100,000 of a property's rental income to investors for a fixed fee, which starts at 6.8% of the advanced amount. This service allows property owners to access their future rental income upfront, providing immediate liquidity for various purposes such as property improvements, deposit for a new investment, or covering unexpected expenses. The application process is entirely digital, and funds are typically transferred within two business days. Futurerent's model presents an alternative to traditional secured or unsecured lending, distinguishing itself by not requiring credit checks, monthly repayments, or involving interest charges, thus having no impact on a client's credit score.
The company generates revenue by charging a one-time fixed fee on the funds advanced. This straightforward fee structure is a key selling point, offering transparency compared to the variable interest and ongoing fees associated with conventional loans. Futurerent partners with real estate agencies to integrate its services, allowing property managers to offer this financing option directly to their clients. This strategic partnership model facilitates customer acquisition and embeds Futurerent within the existing property management ecosystem. The company has secured significant backing, including a $75 million debt facility from Revolution Asset Management, to fund its advancements.
Keywords: property investment financing, rental income advance, fintech, real estate finance, non-dilutive funding, property cash flow, investment property loan, landlord financing, asset-backed finance, proptech