Downpayments raises $32.8m to bolster property investment in Florida

Downpayments, a pioneering FinTech company in the property sector, has recently made headlines with its impressive capital raise.

The company announced an initial capital infusion of $32.8 million, comprising both debt and equity funding. This significant financial backing comes from Partners for Growth and Second Century Ventures, the latter being supported by the National Association of Realtors.

Downpayments is known for offering interest-free down payments to property investors. This innovative approach is particularly relevant as mortgage rates soar, posing challenges for investors wanting to refinance without losing their favorable fixed rates. By leveraging advancements in open banking and AI, Downpayments simplifies the complexities of managing multiple mortgages and related expenses.

The new funding is earmarked to fuel over $200 million in investment property transactions. This bold move is set to significantly impact the property investment landscape, offering a more accessible path to property acquisition and financial independence.

Founded by Godfrey Dinh, also the CEO of Australia-based Futurerent, Downpayments shares its roots with a company that revolutionised the Australian real estate market. Futurerent, known for granting property investors on-demand access to rental income, has already advanced over $25 million AUD in down payments.

Godfrey Dinh highlighted the mission behind Downpayments: “Access to the down payment is the biggest barrier to creating wealth through property, and peoples’ personal financial lives are inseparable from their property goals. We started Downpayments to empower investors on their journey to financial independence.” He also expressed excitement about serving Florida’s vibrant real estate market.

It’s noteworthy that this is not the first instance of significant funding for the initiatives led by Dinh. Futurerent, his Australian venture, had previously secured substantial advances for property investors.