The latest funding round, following one in 2020 that resulted in £7.3m of investment, was led by VentureFriendes, Kibo Ventures, Anthemis, Entrepreneur First and Amro Partners, the latter having invested in Proportunity late last month.

The firm says it will use its new funding to expand its team and in modifying its offering to allow a maximum loan size increase from £90,000 to £150,000 per home.

Proportunity Co-founder and chief executive Vadim Toader says: “We’re delighted with the success of this latest investment round which will enable us to help thousands of people in the UK own their first home or progress up the property ladder.”

VentureFriends partner George Dimopoulos comments: “We’ve been investing in proptech startups that improve the real estate journey since 2016.

“In Proportunity we saw a product that can positively impact the lives of thousands of first home buyers (FHBs).

“Proportunity founders, Vadim and Stefan, have experienced the pain of trying to get on the housing ladder themselves and we were impressed with their resilience, drive and progress so far.

“Proportunity directly addresses the pain of FHBs, it makes housing more affordable and more attainable while also sharing the house price risk, instead of putting the risk solely on the FHB and/or their family.”

And Kibo Ventures’ Javier Torremocha explains: “Proportunity is in the very attractive intersection between proptech and fintech, and contributes to generating positive impact in people by allowing FHBs access to their dream homes. Kibo Ventures has been an early backer of unicorns like payments company Flywire (Nasdaq $FLYW), workforce-as-a-service JobandTalent or micro-mobility Tier.

“We believe Proportunity has the potential to join this exclusive club. Kibo Ventures invests at an early stage in consumer and enterprise software, supporting European companies with their international expansion.”