By Amelia Isaacs on Wednesday 31 August 2022
The platform hopes to help the more than 300,000 first-time prospective buyers that cannot access the market every year.
Next generation home financing platform Justhome has raised more than €3m to help more people own their own homes.
The Berlin-based fintech launched this year to address social inequality and simplify the home buying process.
Home ownership levels in Germany are the lowest among EU countries, with a rate of around 45 per cent, and more than 300,000 first-time prospective homebuyers each year are unable to access the market.
“Nine out of 10 Germans below the age of 30 want to own a home in the future, an even stronger trend post-COVID,” Justhome CEO Johannes Fenner said.
“That’s why we are so determined to provide financial solutions to help this generation become homeowners in a way that is convenient and native to them: digital and self-driven.”
With interest rates tripling over the last six months, access to home ownership has become even more difficult.
Justhome plans to use the funding to build out its platform and develop its own financing solutions.
It offers aspiring homebuyers the ability to get pre-approved mortgage options in minutes from more than 700 lenders, it said.
The pre-seed funding round was led by Target Global.
Porsche and Berlin-based early-stage fund APX also took part in the round alongside a number of angel investors.
“We have increasingly observed the global appetite for more customer-centric and innovative home financing solutions,” Target Global partner Ricardo Schaefer said.
“With Justhome, we found an extremely ambitious team that is really looking to shake up the market to address that demand.”