Fronted, which lends people the deposit to rent a home, has just raised over £20mn.
In Brief:
Fronted was founded by ex-employees from Monzo, Bud and Apple.
The funding was raised in a debt and equity deal led by Fasanara Capital.
It will be used to develop an app where customers can use a “lifetime deposit” to pay their new rental deposit before receiving their previous deposit back.
What does this mean?
Fronted aims to launch its app and lifetime deposit by the end of this year, rolling out a testing cohort across England and Wales in 2022.
