AI-powered credit technology company Abound has expanded into the UK mortgage market after acquiring Ahauz, a specialist lender focused on shared equity mortgages.听
Under the deal, which is Abound鈥檚 first acquisition, Ahauz will continue operating with its existing specialist focus, while gaining access to Abound鈥檚 capital and its AI-led underwriting approach.
This uses Open Banking data (with customer consent) to assess affordability beyond traditional credit scoring models.听
The London-based FinTech said the move is aimed at building a broader suite of homeowner finance products, giving borrowers access to more flexible mortgage and loan options designed to better reflect real household circumstances.
The acquisition comes alongside the launch of Rezide Equity Loan, the company鈥檚 first homeowner-focused product.
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It also follows the firm passing 拢1 billion in lending less than five years after launch.听
The company offers personal loans ranging from 拢1,000 to 拢20,000 over up to five years and is regulated by the Financial Conduct Authority.听
In July last year, Abound reported a 25x net profit increase to 拢7.5 million.听
The company鈥檚 revenue also rose from 拢22m to nearly 拢67m.听
鈥淔rom the second we first met the Ahauz team, it was clear that we shared a vision for how lending to homeowners could work so we鈥檙e absolutely delighted to welcome Ahauz into Abound,鈥� said Abound CEO and co-founder, Gerald Chappell.
鈥淭heir track record in shared equity lending and technology makes them a perfect fit for our vision of reshaping consumer finance.听
鈥淭ogether, we鈥檒l deliver more innovative products that expand opportunities for homebuyers and homeowners across the UK.鈥澛�
Jo茫o Rocha, CEO and co-founder of Ahauz, added: 鈥淛oining forces with Abound is an exciting step for Ahauz.听
鈥淥ur mission has always been to unlock home ownership for customers in a smarter, fairer way.听
鈥淲ith Abound鈥檚 AI-driven technology and resources, we can scale our impact and bring new solutions to market more quickly.鈥�