Homely Secures Investment from UST to Launch Innovative Homebuyer Platform
LONDON and BENGALURU, India, Aug, 10, 2023 /PRNewswire/ — Homely, the free-to-access digital platform which aims to create a fairer property market for homebuyers and renters, has received its first strategic pre-seed investment, at a valuation in the double-digit millions, from UST, a leading digital transformation solutions company.
Founded in 2021, Homely harnesses technology and partnerships to support people’s homeownership journey by improving their financial position and connecting them to tailored guidance, support, and products.
Homely partners with landlords, renters, and financial institutions to increase transparency and accountability during the rental and buying process, as well as providing incentives and rewards through its brand partners.
The funding will help Homely complete the development of its tech platform and launch its innovative proposition to the market, including activating a number of partnerships with established and trusted brands. This includes the likes of insurance giant Aviva, with both parties currently exploring a partnership.
Homely’s launch proposition includes a new way of buying property that allows immediate access to the housing ladder via Homely Flexible Ownership products which connect prospective homeowners to flexible, institutional, capital.
As a leading global provider of technology and digital transformation services, UST has an established track record of investing in innovative businesses across a broad range of market sectors. UST has helped guide digital transformation journeys for prominent companies including Fortune 500 and Global 2000 clients across financial services, healthcare, manufacturing, retail, semiconductor, and technology.
UST will be an integral strategic partner for Homely as the team navigates the UK property market and delivers innovative solutions for renters and homeowners.
Homely benefits from an experienced senior leadership team made up of:
- Lewis Scott, Founder and CEO – Lewis is also VP & Managing Director of Scott Brothers Group, where he has worked with global technology and lower-to-mid-market growth companies on M&A, capital raising, secondary share sales and corporate development.
- Steven Ward, Chief investment Officer – Steven was previously the CEO of HSBC Alternative investment Limited.
- Paul Birkin, Chief Technology Officer – Paul is the former CTO of Global Workplace Solutions at CBRE and former CIO of Experian EMEA.
- Ellis Scott, Head of Mortgages – Ellis is a qualified mortgage adviser and is also Head Mortgage and Protection Adviser at Scottsdale Lifetime Partners.
As well as the core day-to-day team, Homely also has support from a number of advisors with a wealth of industry and business expertise, putting Homely in a strong position to navigate current market challenges and provide industry leading technology solutions.
Lewis Scott, Chief Executive Officer, Homely, said, “UST’s renowned presence as leading providers of digital technology and transformation services, and the depth of knowledge of its experts, aligns particularly well with Homely. As a business we want to offer innovative, data-led solutions to the current issues facing the property market.”
“At such a crucial moment for the property market, this first round capital raise will allow Homely to help more people on their journey to homeownership. When it feels like buying a home, or qualifying for a mortgage, is moving further and further out of reach, Homely is committed to providing innovative solutions, underpinned by technology.”
“As we expand and evolve moving forward, there will be further opportunities on the horizon for investors to work with us and be part of an important journey to help more people become HomeReady. We look forward to working closely with UST and driving forward better outcomes for the UK property market.”
Praveen Prabhakaran, Chief Delivery Officer, UST, said, “We are pleased to join forces with Homely, a truly innovative brand that is using technology to offer modern solutions to longstanding problems within the UK property market. This is truly aligned to our core mission of Transforming Lives and we look forward to playing a significant role in enriching and enabling the homeownership journey.”
Homely’s digital platform will be live and available for consumers to access by the end of 2023.
About Homely
Founded in 2021, Homely is a free-to-access digital platform which leverages technology and partnerships to help homebuyers and renters to find a home.
Whether you are searching for a rental property or setting out to buy your first home, Homely enhances opportunities and empowers each individual to embark on their journey to home ownership.
Homely believes in making the path to homeownership more accessible and is working with individuals to make this a reality. Homely partners with landlords, renters, and financial institutions to increase transparency and accountability during the rental and buying process as well as provide rewards and incentives through its brand partners.
Bold change requires bold action, enter: Homely.
The Homely offering:
- Rental Journey Progress Feature: Helping renters to track their progress while renting towards home ownership. From pre-renters and students to room renters, low-end rental, mid-end rental and high-end rental, Homely wants to be with you on the journey all the way
- Reporting maintenance issues: The Homely platform allows renters to quickly report any issues with a property directly to the landlord in order for improvements to be made and any issues to be addressed
- Homely’s Flexible Ownership offering: Once in a flexible ownership arrangement with Homely, the individual will have the right to purchase further portions of their property on periodic dates in the future for a small fee at prevailing market value. In the event an individual needs to raise liquidity, there may also be the ability to sell some or all of their holding to Homely, subject to availability. This will also provide landlords with the opportunity to sell their properties to incumbent renters.
- HomelyBricks: A rewards based system which integrates with existing affiliate partners with loyalty and cashback schemes to support their build-up of HomelyBricks which can become benefits or proof points when getting a mortgage
- Debt Consolidation – with Monevo, Homely can help users to consolidate debt and start paying it down in preparation for saving for a deposit
- ExpansionReady: Helping landlords to expand their portfolios, source new financing or remortgage on existing BTL mortgages. Also provide real time information to inform their decision to expand their portfolio
- Mortgage & buying scheme acceptance: Working with lenders to be able to access relevant criteria for the lender to approve and accept mortgage applications in real-time
Media Contacts, Homely
Jamie Till, Libby Wallis or Georgia Turton at Instinctif Partners: [email protected] / 020 7457 2020
About UST
For more than 23 years, UST has worked side by side with the world’s best companies to make a real impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges, and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients’ organizations—delivering measurable value and lasting change across industries, and around the world. Together, with over 30,000 employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com
Media Contacts, UST:
Tinu Cherian Abraham
+1 (949) 415-9857
Merrick Laravea
+1 (949) 416-6212
Neha Misri
+91-9284726602
[email protected]
Media Contacts, U.S.:
S&C PR
+1-646.941.9139
[email protected]
Makovsky
[email protected]
Media Contacts, U.K.:
FTI Consulting
[email protected]
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