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Lucas is introducing a new and accessible way into homeownership to millennials through a Rent to Buy model. The purpose is to empower people in cities by providing them the ability to utilize part of their rent as an investment for the flat of their choice.

The service has a fractional ownership component that requires customers only to invest 5% of the property value. Lucas comes up with the remaining 95% to buy the flat and lease it back to them with an exclusive option to buy it in three to five years at a pre-determined price. Part of their rent is allocated into “credits” for equity so they can build on top of their original stack. The offering addresses the flexible lifestyles millennials seek, mixing the benefits of renting and owning without obligating customers to execute the option if they choose not to, returning their initial investment.

Using technology, Lucas makes the product accessible to the market and efficiently underwrites the transaction in a digital fashion. The product connects Buy to Rent real estate capital with Rent to Buy users and then acts as a bridge into full homeownership, working alongside with banks so they can access higher credit on a mortgage when they choose to buy.

The company is currently piloting in Madrid before expanding into other major European cities.

The founders are finance professionals who wanted to tackle the rent and transform it into a long term benefit.

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