Ex-Apple and Monzo Pros’ Revolutionary Fintech Shuts Down: Find Out Why!

Fronted, a fintech initiative from London aimed at assisting renters with upfront housing deposits, has ceased operations.

Established in 2019 by industry veterans Jamie Campbell, Simon Vans-Colina, and Anthony Mann, formerly associated with Bud Financial, Monzo, and Apple, Fronted offered renters a finance solution for their deposits, allowing them to repay in monthly installments. In February 2021, the start-up launched its services using Yobota’s core banking system.

Over its operational span, the company successfully secured more than £20 million in combined debt and equity investments, with contributions from backers like Fasanara Capital, Passion Capital, TrueSight Ventures, and The Future Fund.

Documents from Companies House confirm Fronted’s official dissolution on 23 May 2023.

A message from the company on its webpage reads, “It’s time to bid goodbye to Fronted. We are deeply grateful for the unwavering support we received throughout our journey.”

In a dialogue with Tech.eu, Fronted’s co-founder and CEO, Jamie Campbell, pointed out the company’s decision to halt was influenced by the rising capital costs experienced the previous year. This surge made it challenging to offer their credit services to clients at a reasonable rate. Campbell mentioned, “Our services were well-received when they were priced around £50, but market dynamics meant that the lowest we could go was £100. The price flexibility expected by our clientele was missing.”