In essence, Fronted wants to help renters finance their rental deposits. Its credit product – still in the making – is designed to finance deposits directly.
The start-up is confident it can lend more cheaply at a lesser risk compared to players already tapping the rental market.
Renters can pay back the loan over a set schedule, or in one go once they have the money. The fintech has also planned a ‘holiday mode’ to help borrowers temporarily reduce payments to avoid financial hardship.
