Jrny offers a platform that allows young adults to rent homes while simultaneously building equity through monthly payments, which are converted into Equity Credits stored in a secure wallet. This model addresses the challenge of inaccessible homeownership by enabling users to accumulate wealth and eventually use their credits for a deposit or cash-out.
Funding
$500K 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
Young adults often face significant challenges in accessing homeownership due to high deposit requirements and income limitations imposed by traditional mortgage providers. This makes it difficult for them to build equity and accumulate wealth through real estate.
Solution
Jrny offers a platform that enables young adults to rent homes while simultaneously building equity through a portion of their monthly payments. These payments are converted into Equity Credits, which are securely stored in a Jrny Wallet. Users can then use these credits as a deposit to purchase the home they are renting or cash them out at full value. Jrny allows renters to access a wider range of homes than traditional mortgages by not capping them at 4.5x their income. The platform is regulated by The Housing Act (1988) and The Landlord and Tenant Act (1985), and is a member of the Property Redress Scheme.
Target Audience
Jrny primarily targets young adults in the U.K. who are looking for a flexible path to homeownership and want to build equity while renting.
Features
- Equity Credits are earned with each monthly payment, contributing to future homeownership or cash-out options.
- Jrny Wallet securely stores Equity Credits, ring-fenced and insured for protection.
- Access to a broader range of homes compared to traditional mortgages, bypassing strict income-based limitations.
- Standard Assured Shorthold Tenancy agreements ensure tenant rights and responsibilities are clearly defined.
- Platform regulated by The Housing Act (1988) and The Landlord and Tenant Act (1985), with membership in the Property Redress Scheme.