The UK-based gradual homeownership provider Wayhome has closed a Series A equity funding round of £8 million giving it runway to forge further partnerships with mortgage brokers and lenders in the coming months - an important part of Wayhome’s continuing growth and expansion.
Wayhome provides a solution to those struggling to get on the property ladder. Its gradual homeownership model which is a part buy, part rent option gives homeowners another alternative to financing their own home - particularly with the recent ending of the Help to Buy scheme.
“We are delighted to continue to be in partnership with such eminent investors as Allianz X and Augmentum and to be working with game-changing new investors too - the rising interest rates seen since September’s controversial mini-budget have delivered even greater demand for our product," says Nigel Purves, CEO of Wayhome.
"This significant raise will fuel our ambitions to double the pace at which we can help new homeowners within 12 months. Homebuying has been somewhat traditional for centuries. Our alternative is the best of all worlds as a part buy, part rent proposition that allows our customer to buy their ideal home, in their ideal location, today without waiting for years," says Purves.
“It's never been harder to buy a home, but Wayhome is shifting the paradigm with its business model. It is a prime example of creating positive social impact whilst also delivering returns," Johannes Walder of Allianz X adds.