Netherlands-based home-financing platform, Fairnance has closed a seed round on Maydan, marking the first fundraise on the UK-based equity investment platform.
The announcement comes on the heels of a partnership between Maydan Capital and Wa’ed Ventures, the VC arm of the Saudi Aramco Entrepreneurship Centre, to support Saudi-based startups. Also, Maydan has partnered with other international organisations, such as the UK Pakistan Chamber of Commerce and Industry (UKPCCI), which connects business circles in the UK and Pakistan to promote trade and investment between the two regions.
Fairnance co-founder Amir Saleem said: “We could not be more grateful for the support of investors who are joining Fairnance on its early journey and hope to reward that investor faith as we work towards our launch”.
Fairnance co-founder, Adriaan Brouwer, added: “Beyond fundraising, we are delighted to have worked with a platform that shares our values and vision.We hope to continue our relationship with Maydan Capital in the longer term.”
Maydan Capital CEO, Safdar Alam said “We are very pleased to close our first investment, with the deal being fully committed just hours after the launch. Fairnance’s mission aligns with our ethos of positive social impact, in this case, for those excluded from traditional mortgages, and we are proud to help them on their journey.”
Homeownership made simple
Home ownership rate in the Netherlands has dropped since 2018 though it has increased last year from 2020. Most homeowners in the Netherlands finance their homes with a mortgage loan. The financing requirements have tightened in recent years, and buyers must now finance a part of the purchase with their own money.
The Dutch banks will only grant a mortgage if the buyers have valid residence status. The amount that one can borrow depends mainly on their income, income security, and private financial assets. Many solutions have come up to ease this and help people buy their home without much hassle.
Founded by Amir Saleem and Adriaan Brouwer, Fairnance is a home-financing platform based in Amsterdam. It is trying to build an alternative home-financing solution that serves people in the Netherlands who are not able to experience homeownership for non-financial reasons.
With an equity-based financing product that shares risks equally between homeowner and investor, Fairnance offers a suitable solution to a diverse generation already burdened by a large debt. It is working towards bringing fairness in finance and it is 100% debt-free.
Heads up about Maydan
Maydan Capital is an equity-focused private placement platform for early-stage and growth companies. Maydan connects retail, accredited and sophisticated investors directly to vetted equity offerings in emerging digital businesses, providing each a direct line to growth.
Notably, Maydan will be working with selected partners to open up opportunities previously reserved for the Venture Capital and institutional markets.