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Online mortgage broker Dwell, which has now rebranded to Burrow, has closed a $1.2m (£900,000) Seed led by Passion Capital.

The FinTech company claims to have helped more than 25,000 people to date and says its in-house mortgage advisers have provided financial advice on mortgages worth over £100m.

Burrow‘s CEO Pradeep Raman commented on the news: “By listening to our customers, we continue to develop our understanding of what people want when applying for a mortgage.

“By providing personalised mortgage information online, we are saving consumers time and cutting out the hassle of having to speak with a mortgage advisor to get the same information. Our Mortgage Report takes the industry forward and makes applying for a mortgage significantly easier.”

Eileen Burbidge, partner at Passion Capital said Burrow was tackling the difficult challenges in the mortgage market to deliver transparency, cost savings and convenience to consumers.

Commenting on the company’s potential, she added: “They’re fantastic at continuously developing and testing new products to meet a myriad of customer needs. We’re impressed with the well-rounded team and look forward to helping them accomplish their vision to ‘build the future of how the UK buys mortgages’.”

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