Unmortgage, the ‘part own, part rental’ housing startup, has secured a £500M fund partnership with AllianzGI

Jul 10, 2019 · techcrunch.com

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Unmortgage, the London-based startup that lets you buy as little as 5% of a home and rent the rest, has announced a partnership with Allianz Global Investors (AllianzGI) to create a new fund to be used to purchase properties offered via the platform.

The AllianzGI-managed fund is targeting a size of £500 million, according to my sources, while I understand that the deal was actually signed mid last year but is only being disclosed today. That’s undoubtedly a clever bit of PR timing as it gives the impression of continued momentum for Unmortgage after founder and CEO Ray Rafiq-Omar departed last month. In other words, Rafiq-Omar was actually the CEO when the AllianzGI deal got across the line.

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