The online mortgage broker Trussle has managed to raise £4.5 million in a Series A round led by Orange Growth Capital. Also participating in the round were existing investors LocalGlobe, Zoopla and Seedcamp, with an array of new Angel investors that included Ed Wray, co-founder of Betfair and Ian Hogarth, co-founder of Songkick.
In February last year, the PropTech startup, had raised a sizeable £1.1 million in its Seed round and has now climbed the ladder with £1 billion worth of mortgages for UK homeowners.
Ishaan Malhi, CEO and founder of Trussle commented:
We’re helping thousands more customers every month, and have signed several high-profile partnerships that allow us to reach over 90% of the home-owning population. 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.
What Trussle has achieved
Back in September, Trussle launched a partnership with property portal Zoopla which would allow buyers to find and finance their new home in a simple, unbroken online process. The firm stole the spotlight by winning the Best in PropTech award at Tech City News’ Elevator Pitch LIVE 2016 competition, and most recently, has also been selected to join Tech UK’s Upscale 2017 programme.
Radboud Vlaar, founder and partner of Orange Growth Capital, commented,
We’re very excited about our investment in Trussle, which is leading the transformation of how people think and interact with their mortgage. As a team, not only do they have great consumer financial experience, but like us, they’ve experienced the antiquated process of getting a mortgage first hand. This investment reaffirms the innovation taking place in the UK’s FinTech market.
