Online mortgage broker Trussle has received a £4.5m investment from European fintech investors.
The company has also reached the milestone of managing £1bn worth of mortgages on behalf of homeowners across the UK.
Orange Growth Capital, a European and Asian fintech venture capital firm and backers of leading peer-to-peer lending platform Zopa and online insurance broker Knip, has led the funding.
The £4.5m investment will be used to develop the product and continue growing the brand.
Ishaan Malhi, chief executive and founder of Trussle said: “Since launching Trussle back in 2015, we’ve been overwhelmed by the scale of the movement we started.
“Finding a mortgage has been a time-consuming, inconvenient, and frankly antiquated process for too long.
“Unfortunately this pain is also preventing people from remortgaging when the time is right.
“So far we’ve helped thousands of homeowners reduce their mortgage payments by switching to the right deal.
“With the help of this further funding round, we’ll be able to help thousands more dust off their mortgage statements, get online, and discover what they could be saving.”
Existing investors LocalGlobe, Zoopla, and Seedcamp, who together supported a £1.1m seed round in February 2016, alongside angel investors Ed Wray, co-founder of Betfair, and Ian Hogarth, co-founder of Songkick, are also behind the deal.
In September, Trussle launched a partnership with leading property portal Zoopla to allow buyers who start their property search online to find and finance their home in one seamless journey.
Radboud Vlaar, partner and founder of Orange Growth Capital, who is joining the Trussle board, said: “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.”
