“This investment will help us broaden housing access in Colombia and enable more families to obtain financing for their homes,” said Cristian Villamizar, Co-founder of Duppla.
Duppla is a rent-to-own startup offering financing to home buyers in Colombia. Its product requires only a 15% down payment, half of the typical 30% required for a mortgage in the country. The startup uses a flexible credit assessment, extending financing to individuals often not served by the traditional financing system, such as independent professionals and gig economy workers. Additionally, Duppla provides a flexible monthly payment schedule, allowing buyers to decide the pace at which they want to purchase their property.
Skandia’s investment signifies a change in its strategy, extending its reach beyond corporate real estate assets. The agreement aims to expand and diversify Skandia’s portfolio by managing over 250 homes within the next 18 months.
According to Felipe Fierro, Co-founder of Duppla, “This transaction can be seen as a pathway to popularize a new investment option in residential properties, diversifying the real estate investment landscape in Colombia.”
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