Homely has received its first strategic pre-seed investment 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, 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.
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.
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 will be an integral strategic partner for Homely as the team navigates the UK property market and delivers innovative solutions for renters and homeowners.
Lewis Scott, CEO of 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.”
He added: “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 at 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.
