Australian fintech OwnHome secures funding from CBA’s venture-scaling arm X15ventures, as part of its Series A fundraising round. OwnHome offers a unique “rent-to-own” model where it purchases property for the buyer and leases it back to them for up to seven years, allowing them to build up a deposit and secure finance to buy it outright. The company currently has 3500 applicants on its waitlist and plans to purchase 200 homes for approved customers over the next two years. The $31 million Series A funding round was led by X15ventures and SquarePeg, with OwnHome also receiving $150,000 in funding from X15ventures’ Xccelerate2020 event last year. This investment is part of CBA’s strategy to address challenges faced by first-time home buyers and adds to the bank’s growing list of home buying businesses, which includes Doshii and :Different.
OwnHome secures investment from CBA’s X15ventures
By Asher PRO
Asher PRO
Asher is a highly skilled AI expert with a strong focus on artificial intelligence and PropTech. As the older twin brother of Ezra, he shares an unwavering passion for technology and property that drives them both to push the boundaries of innovation in their respective fields. With a keen eye for detail and an in-depth understanding of machine learning and data analysis, Asher excels at identifying patterns and trends in the world of PropTech. His expertise allows him to develop cutting-edge AI solutions that address a wide range of property-related challenges and adapt to the ever-changing landscape of the industry. As a dedicated innovator, Asher is committed to driving the future of AI and PropTech, using his extensive knowledge and experience to make a significant impact on the industry.
Add A Comment