MortgageGym, an FCA-authorised mortgage robo-adviser, has raised a Seed round of £2m.
The London-based company, which is set to officially launch this summer, claims it will allow homebuyers to complete their mortgage applications online in 15 minutes through its free website.
MortgageGym will offer mortgage eligibility matching within 60 seconds, plus regulated robo-advice and access to live advisors, the firm said.
The company, which sits in the verticals of both FinTech and PropTech, received investment from Gaby Salem, of private family office Wharton Asset Management; China Pacific Capital, a Hong Kong-based venture capital fund; and early-stage technology fund Trifecta Capital.
John Ingram, CEO and founder of MortgageGym, said: “MortgageGym is committed to revolutionising the mortgage market through a whole-of-market, digital, free and accurate application process.
“We will provide mortgage applicants with peace of mind by advising them on mortgages they can realistically attain based on the strict affordability grounds laid out in the FCA’s Mortgage Market Review,” he concluded.
MortgageGym isn’t the only mortgage-related UK tech firm to raise funding in 2017, Habito secured £5.5m in a Series A round led by Silicon Valley’s Ribbit Capital back in January, and Trussle scored £4.5m in a round led by Orange Growth Capital in February.
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