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TODAY'S OTHER NEWS

Goldman Sachs pours millions into mortgage Tech project

Trussle, which describes itself as the UK’s first online mortgage broker, has won £13.6m in financing from international investors led by Goldman Sachs. 

Trussle, launched in 2016, has been spearheading a much needed revolution in the mortgage market by - in its words - “harnessing technology to offer consumers a fairer, faster and more transparent mortgage experience.”

Philip Aldis, managing director at Goldman Sachs, says: “Trussle is at the forefront of revolutionising the UK mortgage market, making it more efficient and convenient for consumers to find the right mortgage.”

Trussle’s team has grown from 14 to 70 people and the company has grown rapidly since the last fundraising round in February 2017. 

The company launched the first continuous mortgage monitoring service last year, which alerts a customer when money could be saved by switching to another deal. 

Trussle has also recently called on government to introduce a Mortgage Switch Guarantee, which proposes new industry measures to offer more protection to customers when it comes to switching.

Ishaan Malhi, CEO and founder of Trussle, says the backing “recognises the brilliant progress we’ve made, but also the scale of our ambition.”

He says the funding will enable the firm to invest in building its brand and “will accelerate us towards our vision of digitising the end-to-end journey to make home ownership more affordable and accessible to all.”

In addition to Goldman Sachs, some of the investment comes from San Francisco-based Propel, Finch Capital and Seedcamp.

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