The startup offers a property-buying payment platform that enables customers to make weekly payments towards their home deposit while the property is under construction. This approach allows first-home buyers, investors, and downsizers to secure new-build properties with a minimum initial investment of $10,000, bypassing the need for a full deposit.
Funding
$14M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Saving a full deposit is a significant hurdle for many aspiring homeowners, particularly for new construction properties. Traditional deposit requirements can delay or prevent individuals from entering the property market. This can be especially challenging in rapidly appreciating markets.
Solution
Coposit offers a payment platform that enables customers to secure new-build properties with a minimum initial payment, as low as $10,000. Instead of paying the full deposit upfront, buyers make weekly payments toward the deposit while the property is under construction. This approach allows first-time buyers, investors, and downsizers to enter the market sooner and manage their cash flow more effectively. The platform also offers a qualification process to help buyers understand their payment capabilities and future mortgage capacity.
Target Audience
Coposit primarily targets first-time home buyers, property investors, and downsizers looking to purchase new-build properties with a lower initial deposit and flexible payment options.
Features
- Minimum initial payment starting from $10,000 to secure a property.
- Weekly payment plans towards the full deposit during the construction phase.
- Coposit Qualification process to assess payment capability and mortgage capacity.
- Mobile app to track payments and property progress.
- Secure agreements with developers.
- Price-lock guarantee, securing the property at today's price.
- Open banking integration for fast eligibility checks.
- No fees or interest charged on weekly payments.