Futurerent scores $50 million debt funding for US rental launch!

Rental income lending fintech Futurerent has raised $50 million in debt funding for the launch of its new US division, called Downpayments. The funding was provided by US VC Second Century Ventures and California-based lender Partners for Growth. Futurerent lends property investors up to $100,000 of their rental income in advance, helping them overcome the barrier of accessing a deposit for a new property purchase. Downpayments will offer financing for the down payment as well as buyer agency services. The company plans to focus on serving property investors in Florida. Futurerent has advanced more than $25 million to property investors since its launch in 2019.