South African fintech startup Fin announced that it has signed a First Home Finance Subsidy Memorandum of Understanding with the National Housing Finance Corporation (NHFC).
The MOU will see Fin become the first non-bank intermediary to facilitate the disbursement of First Home Finance Subsidies in South Africa.
Through Fin Home Loans, the startup aims to give low to middle-income Fin customers access to affordable finance for building materials. Supported projects will range from new builds and renovations to kitchen fittings or extra room creation, adding a work-from-home space, solar & backup systems, and more.
Speaking on the new partnership, Mark Seymour, the founder of Fin Home Loans said, “When we integrated Thuthukani into Fin earlier this year, I looked forward to scaling the business and bringing our offering to many more people. This partnership with the NHFC confirms that this was the right move and is the first of many as we strive to better serve…