Sydney-headquartered startup Futurerent, which allows property investors to access up to $100,000 of rent in advance, has secured $50 million in debt financing as it expands into the US market with the official launch of Downpayments.
Founded by former Deutsche Bank executive Godfrey Dinh in 2019, Futurerent has advanced more than $25 million to property investors to date with most customers using the funds to help fund the deposit on a new property purchase.
Futurerent raised $9 million in mid-2022 ahead of a national roll-out in a round led by OIF Ventures with participation from Mulpha Partners, Bridge Lane, MFO Investments, iPartners and Second Century Ventures.
In a LinkedIn post, Dinh explains that Partners for Growth has provided a multi-currency debt facility while an equity investment has been secured from Second Century, the strategic investment arm of the USA’s National Association of Realtors.
“We’re on a mission to transform how Americans purchase real estate, by financing the downpayment and allowing the buyer to break down their commitment into affordable, manageable payments that are interest-free, or at low rates,” Dinh says.
“This is the culmination of the team’s hard work and dedication on both sides of the Pacific, building on our experience at Futurerent helping Australians with the capital they need to take control of their financial future through real estate.
“Our clients are hardworking families with good incomes, savings and equity that are…
