By Steve O’Hear
Habito, the London startup that has spent the last few years moving the mortgage process online, including offering its own mortgages beyond acting as a broker, has completed £35 million in Series C funding.
The newly disclosed round — comprising an earlier Series C equity raise and a more recent Series C extension in the form of a convertible loan note, was led by new investors Augmentum Fintech, SBI Group and mojo.capital, with participation from various existing investors including Ribbit Capital, Atomico and Mosaic Ventures.
The convertible loan was also matched by the U.K. taxpayer-funded Future Fund, set up by the government to help mitigate the coronavirus crisis’ affect on the country’s venture-backed startup ecosystem. It brings the total raised by Habito to just over £63 million since launching in 2016.
In a call, Habito founder Daniel Hegarty that the new investment will be used by the company to continue digitising aspects of home financing and buying which still remain a pain-point for homebuyers and sellers.
The fintech/proptech started out by offering a digital mortgage brokerage, promising to help you secure a new mortgage and monitor the competitiveness of your existing mortgage. The idea was to make …read more
Source: Tech Crunch