London-based Stairpay lands €890K to transform shared ownership for first-time buyers

London-based Stairpay, a platform aimed at simplifying the shared ownership journey for residents and housing associations, has raised £750K (approximately €890K) in a pre-seed round of funding.

The round, led by Fuel Ventures, also saw contributions from Heartfelt Ventures and angel investors, including Rob Hamilton, who built and sold Instant Offices to MML Capital, proptech specialist Luke Appleby, and Paul Kempe of City and Provincial Properties.

Mike Stevenson, Principal at Fuel Ventures, says, “The shared ownership market in the UK is currently facing significant challenges and the results of Stairpay’s pilot with Clarion Housing has demonstrated the potential of innovative solutions to address them.”

“By leveraging data, the platform simplifies and enhances the shared ownership experience for both housing associations and residents. We are excited to support Floris and the team in their mission to help more people achieve their dream of owning a home.”

What is Stairpay trying to solve?

The UK housing market faces a challenge between renters and affordable properties, with 8.5 million renters and only 20,000 shared ownership properties available in 2021-22. The recent end of the Help to Buy scheme has further widened the gap, contributing to a decade-low number of first-time buyers at 293,000.

Stairpay’s platform addresses these issues by automating the entire shared ownership journey—from initial purchase to staircasing and resales—through a single app. This approach reduces the need for multiple advisers and simplifies complex paperwork.

Additionally, the platform offers data insights to help housing associations better understand their residents and optimise their shared ownership programmes.

A recent two-month pilot with Clarion has proven the platform’s effectiveness, generating an additional £1.58M in staircasing instructions and showcasing engagement from residents.

Founder of Stairpay, Floris ten Nijenhuis, says, “Stairpay was born out of the desire to solve the challenges faced by first-time buyers looking to get onto the property ladder. The UK has the largest shared ownership market globally but has challenges to address.”

“Our partnerships with Places for People, Clarion and Share to Buy signify the collective intent to apply a data-driven approach to significantly improve the shared ownership experience for both residents, housing associations and other stakeholders which will see more people realise their dream of full home ownership.”

“Shared Ownership has also become an increasingly popular asset class, attracting significant investment from the likes of Blackstone, Legal & General and M&G. Our technology provides data and insights to make Shared Ownership an even more attractive asset class by determining who it works for.”

Capital utilisation

Stairpay plans to use the funds to enhance its platform and expand its network of housing associations. The startup focuses on automating the staircasing process, allowing residents to increase their home ownership gradually.

The company has formed key partnerships with Clarion, a housing association, and Places for People, a social enterprise. Additionally, Stairpay has teamed up with Share to Buy, a property portal for shared ownership, to streamline the listing of properties.

Brief about Fuel Ventures

London-based Fuel Ventures was founded in 2014 to bridge the investment gap for early-stage companies moving from pre-seed to Series A funding. 

The firm invests between £250K and £3M in tech startups with early commercial traction, focusing on marketplaces, platforms, and SaaS models across various sectors. As of 2024, Fuel Ventures has made over 160 investments.