Maydan Capital Ltd. (‘Maydan’) today announced the successful closing of a seed round for Netherlands-based home-financing platform, Fairnance. With the mission to provide ethically-focused tech startups with visibility and access to investment, Fairnance’s fundraise marks the first completed deal for the UK equity investment platform.
Based on the concept of disintermediation in home-financing, Fairnance is trying to build an alternative home-financing solution that serves people in the Netherlands who are being excluded from home ownership for non-financial reasons.
Fairnance co-founder Amir Saleem said: “We could not be more grateful for the support of investors who are joining Fairnance on its early journey and hope to reward that investor faith as we work towards our launch”. His co-founder, Adriaan Brouwer, added: “Beyond fundraising, we are delighted to have worked with a platform that shares our values and vision.We hope to continue our relationship with Maydan Capital in the longer term.”
Maydan Capital CEO, Safdar Alam said “We are very pleased to close our first investment, with the deal being fully committed just hours after the launch. Fairnance’s mission aligns with our ethos of positive social impact, in this case, for those excluded from traditional mortgages, and we are proud to help them on their journey.”
As well as originating its own organic deal flow through its platform, Maydan will be working with selected partners to open up opportunities previously reserved for the Venture Capital and institutional markets. The announcement comes shortly after a signed partnership between Maydan Capital and Wa’ed Ventures, the VC arm of the Saudi Aramco Entrepreneurship Centre, to support Saudi-based startups. Maydan has also partnered with other international organisations, such as the UK Pakistan Chamber of Commerce and Industry (UKPCCI), which connects business circles in the UK and Pakistan to promote trade and investment between the two regions.
Safdar added, “We believe it is important for all investors to have access to opportunities to grow their wealth in a meaningful way that directs capital to businesses that are aligned to their values. We will continue to bring more ethical deals like this one to the market.”
Source: Ecology Media