Proptech start-up Track has launched an app which it hopes will help young homeowners improve the tracking of their household finances.
The app is targeted at a new generation of homeowners already familiar with app-based FinTech and banking products.
UK first-time buyers, who have an average age of 33, are at their highest in over a decade. In September first-time buyer mortgages increased by 1.6 per cent year on year, outstripping home movers.
Track’s app provides an AI-powered home valuation feature, multi-person access for those in shared-finance households, tracked living expenses from multiple bank accounts, and now management of household finances.
Track’s founders, met while studying at Imperial College Business School. Byron McCaughey and Henry Oakes came together to build the new app.
“We have brand new ways of managing everything online from our current accounts, to our pensions to our credit scores,” said McCaughey.
“It struck us that there is nothing out there for our biggest and most personal asset: our home.
“We built Track to give young homeowners a sense of empowerment, ease and above all else, to take the emotional stress out of money management.”
Backed by VC Pi Labs, the firm is currently in a crowdfund on Seedrs, having reached £159,251 of its £250,014 goal at the time of writing.