The Romanian-founded fintech startup Proportunity aims to attract €300.000 on the crowdfunding platform SeedBlink. The financing round is supported by two lead investors, Venture Friends and Kibo Ventures, with an input of €1.17 million each. The funding will be used to double the marketing impact and launch two new products by the end of 2022.
Proportunity, founded by Vadim Toader and Ștefan Boronea in 2018, helps people buy affordable homes by offering them a home purchase equity loan and assisting with the search. The company works similarly to the UK government’s “Help to Buy” scheme but is available for any home, and not just new builds. The machine learning technology of the platform helps buyers to find homes with high growth potential.
“Our vision is to make property buying as simple as renting. The current product is designed for people that have a 5% deposit but are struggling to get a large enough mortgage to get the home they truly want. Proportunity helps customers buy smarter, due to our machine learning tech, and buy sooner with our mortgage booster,” stated Vadim Toader, CEO & Co-Founder, in an official announcement.
With a current focus on the UK market, which is currently worth around €1.1 trillion, the Romanian-founded startup plans to enter the US and Core Europe Residential Property Markets by 2025. The Proportunity team estimates €4.13 million in revenue in 2022 and €125 million in 2025.
In the first months of 2022, the startup financed almost €47 million of property purchases, a 152% growth in comparison to the same period last year.
As of today, the Proportunity has 32 employees, with extended experience in AI and forecasting and a board of advisors with exceptional expertise in scaling high-growth companies.
“Proportunity is a standout among European fintechs – and we’re so glad to share this VC -like investment opportunity with everyday investors. Both Vadim Toader and Stefan Borodea are representative of successful Romanian founders abroad who’ve built trust with a strong team, great traction, and a stellar lineup of international VCs such as VentureFriends and Kibo Ventures. It’s exciting for us to have the first Series A+ series with export of Romanian intelligence,” said Laurențiu Ghenciu, Chief Business Officer at SeedBlink.
In October 2021, the Proportunity team raised $150 million to develop further in the UK market.