South African fintech startup Fin has signed a Memorandum of Understanding (MOU) with the National Housing Finance Corporation (NHFC) to become the first non-bank intermediary facilitating the disbursement of First Home Finance Subsidies in South Africa. Through its Fin Home Loans division, the company aims to provide low to middle-income customers with access to affordable finance for building materials, covering various projects such as new builds, renovations, and home improvements. The partnership with NHFC aligns with Fin's goal to scale its business and expand its offering to a wider customer base. Additionally, Fin's embedded credit strategy allows its partners, including corporate employers, to offer credit to their customers through Fin's tools and services. The CEO of NHFC expressed excitement about the partnership, highlighting Fin's accomplishments as an approved lender and its potential to assist South Africans in building their dream homes with the support of the First Home Finance Subsidy. In March, Fin acquired Thuthukani, a fintech startup focused on incremental housing finance, and integrated its offering into Fin's portfolio to provide affordable finance to middle to lower-income customers.

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