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You may have heard of ‘Generation Rent’ – you may even consider yourself to belong to it. The catch phrase refers to a new reality in which owning a house is more difficult than ever before. The most difficult part of all, is buying your very first home – but it doesn’t have to be that way.
An end-to-end solution for first-time buyers, Nude helps you save for and purchase your first home, with a seamlessness and ease that the market has never seen before. From helping you save your first £5, to sending you a bottle of champagne the day you move in. So far, over 1,000 early testers love the interface, and more than 4,700 are waiting for early access to the app upon launch. That’s 4,700 people – and counting – that might move into their first home a lot quicker than they ever imagined possible.
There are around 13 million people between the ages of 18 to 35 in the UK that want to own their own home, and Nude is perfectly positioned to help this large and underserved market achieve their goals. As it stands, a first-time buyer has to jump through a number of hoope before successfully sealing the deal on a mortgage and home purchase. Nude has reimagined the entire process to build a much simpler and better service.
In 2019, Nude raised £1.7 million and were awarded an innovation grant of circa £440,000 from Scottish Enterprise, helping them launch a beautifully designed and engaging app that champions the cruz of their brand – transparency. Just as the name suggests, Nude doesn’t have anything to hide. There’s nothing lurking in the fine print, they don’t sell your data and they won’t slam you with fees you didn’t see coming. What they do have, is a proprietary data and behavioural science platform built into the app’s functionality, that learns as you do. This allows Nude to analyse your income and spending habits over time, so they can offer you insights, advice and recommendations on how to achieve your goals faster.
There’s a lot of learning that happens between saving that first few pounds, and moving in. That’s why Nude has created a full ecosystem of resources for their users, including engaging in-app content, videos, posts, and their newsletter ‘Adultish’ which has already surpassed 10,000 subscribers.
They’re also planning on applying for a banking licence to launch Nude mortgages so they can truly provide every aspect of the home-buying process – and it doesn’t stop there. Nude has its sights on international expansion, and the development of additions to their platform that will help people save for all the important (and expensive) things in life, whether that’s a wedding, retirement, or a college fund.
With over 700 investors backing their current crowdfunding round on Seedrs, Nude is realising a fundamental desire to make the financial system fairer, simpler and more transparent for everyone. They’ve already reached 100% of their target, and their application for the Future Fund has been approved, meaning all of that funding will be matched by the UK government, allowing them to make twice the impact.
This is your chance to support them on their mission to help people everywhere be wonderful with their money.