This startup provides unsecured loans to homeowners specifically for funding home improvement projects, such as window replacements and kitchen upgrades. By partnering with introducer networks, the company facilitates access to consumer finance options that enable homeowners to enhance their living spaces without upfront costs.
Funding
$61.4M 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
Many homeowners, particularly those with less-than-perfect credit, face difficulty securing financing for essential home improvements, renewable energy solutions, accessibility products, and leisure-related purchases. Traditional lenders often prioritize borrowers with prime credit scores, leaving a significant portion of the market underserved. This lack of access to finance can prevent homeowners from improving their living conditions, reducing energy costs, or enhancing their quality of life.
Solution
Propensio provides specialized consumer lending options tailored to homeowners, including those with non-prime credit, to facilitate home improvements, renewable energy installations, accessibility equipment purchases, and leisure-related investments. By partnering with retail providers and introducer networks, Propensio offers a range of lending products designed to meet the diverse needs and aspirations of its customers. The company's assessments are performed on an individual basis, considering affordability and suitability to ensure responsible lending practices. Propensio aims to provide access to finance for projects that have a positive impact on lifestyles and the environment, offering loans from £1,000 to £150,000 with flexible terms.
Target Audience
Propensio serves homeowners across the UK, particularly those with non-prime credit, who are seeking financing for home improvements, renewable energy solutions, accessibility products, or leisure-related purchases, as well as retail providers and introducer networks seeking to offer financing options to their customers.
Features
- Unsecured loans for home improvements, renewable energy solutions, accessibility products, and leisure purchases
- Lending options available for customers with a wide range of credit backgrounds, including non-prime credit
- Individual assessments to determine affordability and suitability
- Flexible loan terms from 2 to 10 years
- Loans ranging from £1,000 to £150,000
- Partnerships with retail providers and introducer networks
- Focus on funding projects with positive social and environmental impact
- Fixed monthly repayments
- No hidden fees, and the ability to settle in full or in part at any time