London-based rental deposit fintech Fronted has launched this month, becoming the second company to be powered by Yobota’s core banking platform.
Fronted was founded by Jamie Campbell, Simon Vans-Colina and Anthony Mann, the former employees at Bud, Monzo, and Apple. After delays caused by the pandemic, the company was launched on 16 February, 2021.
Renters can afford deposits
Fronted is aiming to help renters afford deposits when signing new tenancy agreements, with many UK adults lacking savings to front-up potentially thousands of pounds when moving rental property. The startup does this by offering a fixed 12.5% loan to cover the deposit, with renters able to spread the cost across up to 12 months.
Jamie Campbell, Co-founder and CEO of Fronted, added: “Fronted was created to help renters move more easily and reduce their upfront costs. A flexible and reliable technology partner was needed to support this ambition, and to provide the underlying technology required to simplify the upfront rental deposit issue. The flexibility offered by Yobota’s architecture enabled us to create an innovative and tech-driven solution to a long-standing problem in the UK rental market. By utilising Yobota’s APIs, we were able to build a customised user experience that reduces the time and complexity involved in applying for a rent deposit.
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