Lucy Mullins won the Innovator of the Year Award at the Bonhill Group Women in IT Awards 2020 for her work helping young people step onto the property ladder.
Executive MBA (EMBA) alumna Mullins won the award for her work as co-founder of StepLadder, a fintech company that aims to empower Generation Rent to buy their first homes. Generation Rent are young adults with little chance of owning their own homes due to the rising cost of housing, in particular raising a substantial deposit.
StepLadder has high ambitions to tackle this housing crisis by enabling and supporting would-be first-time buyers to raise the deposit to buy a house. They are pioneering the use of digital rotating savings and credit associations (ROSCAs) in the UK. ROSCAs enable individuals to collaborate with others, saving together for a property deposit. They are used all over the world but are largely unknown in the UK. StepLadder aims to support one million first-time buyers to buy their first home by 2025 and has launched a new online platform to enable first-time buyers to raise their deposit sooner through this collaborative finance initiative.