Two Romanians living in London have launched a startup that aims to help its users buy their first homes earlier and at lower costs.

Proportunity says it uses machine learning to forecast the evolution of house prices in London. Based on this model, it advises its users where in London it is best to buy houses.

The company was also recently authorized by the British regulators to become a mortgage lender and will start offering equity loans to help users who don’t have enough money for the full down payment on a mortgage loan, Techcrunch.com reported. The startup will offer an equity loan of up to 15% of the property’s price allowing the user to come with only 5%. The company will co-own the property and get 15% of its value five years after purchase.

Romanians Vadim Toader and Stefan Boronea launched the business and manage its operations as CEO and CTO.

Proportunity has already secured a GBP 5 million credit to start granting equity loans and has raised GBP 2.7 million in funding to develop its business. Backers include Global Founders Capital, Concrete VC (backed by Starwood Capital Group), Savills, EF, Trusted Insights, and Le Studio VC as well as several angel investors.

editor@romania-insider.com

(photo source: Proportunity on Facebook)