IMS Digital Ventures and Futureproof Financial Group announced a new venture building partnership for the development of Futureproof’s software platform, which will bring to market
its Equity Preservation Mortgage®, a next-generation smart mortgage that funds retirement without depleting home equity.
Mr Anastasios Papadopoulos, Founder and CEO of IMS Digital Ventures said, “Our latest
partnership with Futureproof aligns with our strategy to back world-class entrepreneurs with deep market expertise who are looking to solve large-scale global problems, and the ‘global retirement funding gap’ is exactly that,”
The number of underfunded, retiree home-owners is rising rapidly across the world and Futureproof’s Equity Preservation Mortgage® is a game-changing fintech innovation to allow these “asset-rich, cash poor” to leverage their home equity in a way previously never possible.”
The tie-up will see IMS Digital Ventures becoming the second largest shareholder of Futureproof with Mr Papadopoulos being appointed to the Board of Directors of Futureproof Financial Group.
Mr John Innes, CEO and Co-founder of Futureproof said, “We are excited to be partnering with IMS Digital Ventures for the build of the Equity Preservation Mortgage® SaaS platform for regulated financial institutions,”
“The partnership will focus on the design, architecture and build of the tech stack for the
Equity Preservation Mortgage® leveraging IMS’ proven experience in developing and implementing
enterprise-level B2B SaaS solutions with unique expertise in blockchain, ML, AI and the web3 ecosystem,”
“We welcome the strong backing and support of IMS as a leading VC focused on the successful scaling of global SaaS businesses,” said Innes,
With IMS as tech partner, Futureproof has immediate access to top-tier software engineers who can fast-track the product launch of the Equity Preservation MortgageTM. The development is led by IMS’s highly regarded Chief Solutions Architect and newly appointed CTO of Futureproof.
The Equity Preservation Mortgage® is planned for release in mid 2024 in the USA and then in Asia,
United Kingdom and Australia.
Futureproof is closing a current US$12M Pre-Series A raise with fintech VCs and bank/insurance carrier CVCs. The terms of the IMS Digital Ventures priced round were not disclosed.