UK online mortgage broker Trussle has raised £4.5m in a new funding round as it reaches a milestone of £1bn worth of mortgages managed.
The round was led by European and Asian fintech-focused VC Orange Growth Capital with participation from existing backers LocalGlobe, online property portal Zoopla and Seedcamp as well as angel investors.
Launched in 2015 Trussle aims to use automation and mortgage monitoring services to track and compare products across 90 lenders.
The company says it will use the capital to further develop its product and grow its brand.
September saw the company partnered with Zoopla to allow users to find financing through the property marketplace.
It claims this drives an average of £5m mortgage enquires every day.
Trussle founder and CEO Ishaan Malhi said: “Since launching Trussle back in 2015, we’ve been overwhelmed by the scale of the movement we started.
“We’re helping thousands more customers every month, have signed several high-profile partnerships that allow us to reach over 90% of the home-owning population, and now manage £1bn worth of mortgages on behalf of UK homeowners.
“All together it’s validation that we’ve uncovered a real consumer problem, and the technological innovation we’re starting to see from new entrants, as well as traditional brokers, suggests our innovative approach is having a real snowball effect.”
The company is also partnered with comparison site uSwitch, online estate agent HouseSimple and credit bureau Noddle.
Copyright © 2017 FINTECH GLOBAL