Jamie Campbell (right)/Fronted.
Fronted secures funding from Passion Capital, Truesight and the UK Future Fund
A long-delayed round finally closed by the team.
Founded in December 2019 and on a mission to help renters by offering credit to spread the cost of apartment deposits which can often cost as much as several months’ rent.
“Like a lot of businesses we have been finding our feet in post-pandemic world, we are grateful to have supporting investors like Passion Capital who have supported us from the very beginning and who believe in our vision to help renters move,” CEO and co-founder Jamie Campbell told TechCrunch in a statement.
“We were in the middle of raising our seed round when COVID hit and fund raising largely paused as investors re-assessed, recalibrated and got used to a Zoom-first world,” he wrote.
“There has been a lack of innovation in the credit space for the last four years.”
“And there has been a lot of technological advances in that time as well. Technological advances that lenders haven’t really been making the most of,” he said, pointing to the example of Open Banking.