FinTech (financial technology) is a swiftly growing global field that has naturally entered into a significant crossover with the property industry as it continues to revolutionize the way we invest and save.
As this phenomenon progresses, startups and fresh young companies have popped up all over Europe to take advantage of the particularly lucrative and exciting opportunities it presents.
In this article, the team members at Property Solvers – specialists in selling homes fast – explore some of the most exciting young or up and coming FinTech companies taking the European real estate sector by storm.
While many of these businesses are based in the UK – after all, London remains the undisputed FinTech capital of the continent – you’ll also find some fresh and exciting ventures from Western, Northern, and Central Europe in our list of top picks.
The UK
Flatfair – London
Flatfair does away with age-old – and often flawed – rental deposit arrangements in order to offer advanced protection and greater flexibility to both landlords and tenants entering a contract for the first time.
The company makes renting more affordable for prospective tenants and allows fast charge recovery for landlords – so that any issues can be resolved quickly and easily, with less risk and increased opportunities for positive landlord/tenant relationships.
Fronted – London
Another organization focussed around rental deposits, Fronted allows tenants to pay off their upfront costs gradually – in “bite-size chunks”, spreading them out over a period of time and thereby reducing any concentrated impact on the finances of individuals.
This takes the pressure off renters house-hunting in locations where they may be expected to pay prohibitively large amounts to a landlord – something that might otherwise significantly reduce the number of opportunities they would have to find a safe and suitable place to live.
Habito – London
Habito’s tagline is “mortgages made easier” – and this promise is clearly put into practice, with the quickly growing organization offering to help you find the very best mortgage for your needs – with no fees.
Habito takes no money from its users, opting instead to take procurement fees from the mortgage lenders it uses. The entire process is completed online, with an informal, no-fuss approach.
LendInvest – London
LendInvest is a mortgage lender that is not connected to any particular bank or building society. It provides an intuitive user experience and offers mortgages, bridging loans, and further finance options to landlords, developers, and other property professionals.
With an “international capital base” and a highly flexible, tech-based approach to lending and borrowing, the company has already lent in excess of £3 billion at the time of writing.
Molo – London
Specialists in buy-to-let mortgage lending, Molo allows applicants to borrow up to 80% in order to secure a property swiftly, safely, and more easily than they might via other, more traditional routes.
Molo refers to itself as a “digital mortgage lender”, with every part of the process completed safely and transparently online.
Proportunity – London
Proportunity offers first time buyers or those with lower budgets the chance to afford a home that has the best possible potential for an increase in value.
The company provides equity loans to help buyers achieve a higher deposit. This practice is based on a type of machine learning that can predict the rates of growth in particular neighborhoods.
Northern and North West Europe
Bulkestate – Estonia
This sophisticated platform allows prospective real estate tycoons to crowdfund their investments or buy property as a group – offering lucrative opportunities to individuals who may not normally have the capital upfront to take such action.
It is possible to engage with Bulkestate as either an independent investor or as part of a group buying collective.
While the majority of the properties currently involved are located in Latvia, Estonia and other nearby territories, this type of solution is likely to gain significant traction across the globe in the near future.
Jungo – Netherlands
Jungo is a platform that provides mortgages based on a crowdfunding model.
Investors are matched with prospective homebuyers, enabling the former to contribute towards the latter’s mortgage and make a healthy return, while the latter is more easily able to afford their dream home.
Even institutional “backup” investors are available to support projects that do not meet their total crowdfunding target, which means that a mortgage is almost always guaranteed.
Western Europe
Virgil – France
This co-investing platform offers to supplement a potential homeowner’s property investment in return for a share of the resulting property. As a result, house hunters can afford something of higher value – and can buy back Virgil’s share after ten years or sell whenever they want.
Central Europe
realbest – Germany
Offering a fast turnover and clarity throughout the homebuying process, realbest allows house hunters to complete the entirety of a residential property transaction online with the help of experienced financial advisors.
Every part of the process, from the property’s valuation to the financial exchange, is completed swiftly and quickly online, for the benefit of the peace of mind of all involved and in order to relieve significant pressure from any existing chains.
The above companies range in status and size from startups to fully-fledged and established organizations.
With property and finance embracing the tech and AI world with increasing gusto – particularly following the swift implementation of various PropTech and FinTech solutions throughout Europe’s various COVID-19 lockdowns of 2020 and 2021.
The tools and services offered by these ten fintech specialists – and many others around the continent – will continue to offer smoother, speedier, safer, and more transparent options for those investing in or utilizing real estate and property services as we continue to look to the future.
