9 years ago

Localglobe Backs Trussle, an Online Mortgage Advisor

  • Localglobe, a new VC fund founded by Robin and Saul Klein, has led a £1.1 million investment in Trussle, an online mortgage advisor based in London

  • The funding round also includes participation from notable UK-based investors such as Ed Wray, Dan Cobley, and Ian Hogarth

  • Trussle aims to disrupt the traditional mortgage broker market by offering a tech-driven solution that provides customers with the best available mortgage deals and manages the entire process for them

  • The company claims to be cheaper than traditional brokers and makes money through a flat fee from mortgage providers

  • Trussle's service includes ongoing support and advice throughout the lifetime of a mortgage, helping customers save money by switching to better deals

  • This is reminiscent of recent online insurance brokers, and has the potential to create recurring revenue for Trussle.

      • ProblemFinancial Services

      "It's a real pain to find the best mortgage deal. Traditional brokers are expensive, slow, and offer a one-size-fits-all approach. People end up overpaying on their mortgage because they don't know when to switch to a better deal."

      Solution

      "Trussle is a tech-driven online mortgage advisor that uses proprietary software to find the best mortgage deals for you and helps manage the whole process. It's free to use and makes money from a flat fee from the mortgage provider. Trussle will also monitor your mortgage over time and alert you when you can switch to a better deal, potentially saving you thousands of pounds."

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