Unmortgage, the ‘part own, part rental’ housing startup, loses founder and CEO
Curated by: Startups
Unmortgage, the London-based startup that wants to let people buy as little as five percent of a home and rent the rest, has lost its founder and CEO, TechCrunch has learned.
According to a regulatory filing on Companies House, Unmortgage’s Rayhan Rafiq-Omar was terminated as a Director on 4th of May, and has been replaced on the board by Unmortgage co-founder and product lead Josef Wasinski.
However, sources tell me the board room reshuffle is the result of Rafiq-Omar leaving the startup entirely, which is bound to come as a shock to London’s fintech and property tech community. It’s not clear why he has departed, although one source tells me it wasn’t of his own volition.
Rafiq-Omar is named on Companies House as a person of “significant control” of Unmortage, with a share ownership of more than 25% but not more than 50%, and voting rights of more than 25% but not more than 50%. He was also the driving force behind Unmortgage and in conversations I’ve had with the departing CEO over the last few years, I always got the impression he was not only determined to help