Fronted secures £1m in seed follow-on funding from Monzo co-founders and other investors
Monzo co-founders Paul Rippon and Gary Dolman backed the rental deposit lender in its latest round.
Fronted operates a regulated rental deposit lending business providing consumer loans for tenant deposits. The firm offers cost-effective alternatives to traditional cash deposits without early repayment fees.
London-based rental deposit lender Fronted has secured £1m in a seed follow-on round comprising debt and equity, bringing its total funding to £2m. The capital was raised from over 20 backers, including former Monzo executives.
The funds will be directed towards expanding the company's deposit loan operations and forging strategic partnerships with platforms to offer deposit payment options.
From the founder
"We are delighted to get the backing of over 20 remarkable investors, to grow the business. This investment is the result of a year of huge effort from the whole team. We will use the money to create greater access to Fronted; partnering with platforms that will offer Fronted as a deposit payment option."
Jamie Campbell
Co-Founder at Fronted
Investor perspective
"Fronted’s offering is highly differentiated and equally attractive to their customers and to me as an investor. Their focus, business model and prospects are exciting and I am delighted to join Fronted’s advisory board."
Gary Dolman
Venture Investor, Gary Dolman
Use of funds
- 01Continue product development
- 02Scale operations
