Frontya’s started sounding potential strategic investors and advisers for a Series A raising.
Housing investment group FrontYa, which will double the deposit of property buyers in return for 25 per cent of any capital gain, has started sounding investors to anchor a substantial Series A funding round slated for coming weeks.It is understood FrontYa is talking to strategics and potential advisers ahead of raising that is slated to be worth more than $25 million and include both equity and debt components.
FrontYa has told potential investors the vast majority of funds raised would be used to increase deployments. The group, founded less than one year ago, has settled on four properties and has 20-plus approvals for aspiring home-owners on its books, which it told potential investors was proof its concept worked and there was appetite for the product.
Its Series A raising comes hot on the heels of a pre-seed funding round, finalised in March, which saw the group pick up venture capital investor Rob Lederer, of Primo fame, and ex-CVC executive chairman
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