Ourboro, a Toronto-based alternative financing company, is expanding its co-ownership offering beyond the Greater Toronto Area. 

The company’s product is now available in additional Ontario regions, including Kitchener/Waterloo, Hamilton, Guelph, and London.

Business model

Ourboro invests alongside homeowners by contributing toward the initial down payment in exchange for a proportionate share in the future appreciation of the home when it’s sold. 

The company says it does this by managing a pool of funds for real estate investors who would rather co-own homes alongside vested homeowners than act as a property manager to un-invested tenants. 

The model is unique in that the investors’ goals are uniquely aligned with that of the co-owners, says Ourboro. 

Expansion

The company credits growing demand for its expansion over the last year. Since launching in January 2022, Ourboro says it has partnered with over 300 real estate and mortgage professionals and received more than 800 applications from potential homebuyers looking to purchase their first home. 

They have deployed over $5 million into homes alongside families across the GTA, accelerating their co-buyers’ ability to break into the market by an average of nine years.