Stairpay, a platform that streamlines the shared ownership customer journey, has secured £750,000 in pre-seed funding. The funding round was spearheaded by Fuel Ventures, with Heartfelt Ventures also contributing. Angel investors such as Luke Appleby, Rob Hamilton, and Paul Kempe also joined the investment round. Stairpay intends to use the funds to build its platform and increase its housing associations partnerships.
Currently, Stairpay focuses on automating staircasing, a process that helps people gradually reach 100% home ownership. The company has already partnered with Clarion Housing and Places for People, two leading housing associations. It has also teamed up with Share to Buy, the biggest shared ownership portal worldwide, to facilitate automatic shared ownership property listings.
Stairpay’s platform automates the entire shared ownership journey for both housing associations and their residents, from initial purchase to staircasing and resales. The app removes the need for multiple advisers and complex paperwork and enables residents to manage their overall shared ownership experience.
Floris ten Nijenhuis, Stairpay’s founder, explained that the UK has the most extensive global shared ownership market, but it faces challenges that must be addressed. He added that the company’s partnerships with Share to Buy, Clarion Housing, and Places for People mean that data can be applied to improve the shared ownership experience for stakeholders and residents, making it an even more attractive asset class.
Fuel Ventures Principal Mike Stevenson noted that Stairpay’s pilot with Clarion Housing showed the potential of technology to strengthen the shared ownership market. By leveraging data, the platform streamlines and enhances the shared ownership experience for both parties. Stevenson was excited to support Stairpay’s efforts to enable more people to achieve their dream of homeownership.
