Nude close to fund target for home buying app
Crawford Taylor: challenges
Glasgow financial start-up Nude, which helps people save for their first home, has raised £3.4 million, following the launch of a Seedrs campaign.
Nude has a £3.5m target, much of which was secured before the campaign was fully-launched to the public.
The new savings account, financial coach and app has been designed to help aspiring home-owners better understand their finances and the home-buying process, so they can save for and buy their home faster.
Last year the business raised £1.7m in growth capital and was the recipient of a £440,000 SMART: Scotland innovation grant from Scottish Enterprise. Investors in this funding round include the UK Government’s Future Fund.
The start-up plans to apply for a banking licence to launch mortgages.
Crawford Taylor, CEO and founder, previously a partner of the actuarial firm Hymans Robertson, said: “The challenges facing young people are huge, with a massive wealth imbalance, a complex financial system and little help.
“We’ve been planning, testing and building Nude to make the financial world fairer and easier, starting with helping people buy their first home faster and easier than ever before.”