INSUBCONTINENT EXCLUSIVE:
seed funding.Backing the round is Spanish banking giant BBVA and fintech VC Anthemis via the London-based venture studio on which the pair
Early investor Seedcamp also followed on, in addition to unnamed angel investors.StepLadder says it will use the new capital and support
platform is designed to motivate renters to save for a deposit so they can purchase their first home.Using a financial model known as a
Raising the deposit is the biggest hurdle
This would see it find 19 other members to be in the same Circle
will only release the pot to their solicitor for use as a property deposit
The app lets members engage with a community of like-minded people and access group-buying discounts on services such as mortgages,
solicitor fess and surveyors
small monthly fee (between 2-5%) to be part of a Circle, which Mullins says covers the cost of delivering the service.This includes holding
money securely in a client money account, a payment waiver if a member were to become sick or unemployed after buying a property with their
says Mullins.Meanwhile, StepLadder has plans to expand the use cases for Circles and evolve the platform to also cover general savings goals
