8 years ago

Habito Secures £18.5M Series B Funding to Revolutionize Mortgage Process

  • Habito, a London-based startup that digitizes the mortgage process, has raised £18.5 million in Series B funding led by Atomico

  • The investment will be used to integrate its technology with major retail banks and high street lenders for real-time mortgage approvals, expand its offering to include home and life insurance, and further develop its product

  • Habito aims to eliminate friction in the mortgage process, offering customers a free and efficient way to find the best mortgage options

  • The company's technology monitors the market and alerts users if they are paying more than necessary, enabling them to switch easily to better deals

  • Atomico, the European VC firm, recognizes the potential of Habito's approach to address the slow, expensive, and fragmented residential mortgage market.

      • ProblemFinancial Services

      "Getting a mortgage in the UK is slow, expensive, and very fragmented. There are 15,000 largely offline brokers in the UK, and 1 in 4 British homeowners are currently mismatched, paying lenders an average of around £4,000 more than they need to every year."

      Solution

      "Habito is a digital mortgage broker that helps you find the right mortgage for your needs. They analyze over 11,000 mortgage products across 70 lenders in real-time and can help you complete the entire application process for free. They also monitor the mortgage market and alert you if they think you have become mismatched and are paying over the odds, making it easy to switch to a better deal."

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