Latest round brings total investment in the UK’s leading digital mortgage company to £63 million
Habito, the UK’s leading digital mortgage company, announces the closing of an additional £35 million in Series C funding. Led by international venture capital firms and new investors, including Augmentum Fintech, SBI Group and Mojo Capital. With participation from existing investors such as Ribbit Capital, Atomico and Mosaic Ventures. Royal Parks Partners acted as exclusive financial advisor to Habito and its shareholders for the deal. This brings the round’s total value of investment to £63 million since Habito launch to market in 2016. The newly accredited BCorp has helped more than 320,000 people in the UK access free, whole-of-market market mortgage advice. Submitting more than £4.5 billion worth of mortgages. This Series C funding extension will be used to further accelerate Habito’s rapid growth as it continues to transform the UK’s £1.3tn mortgage market with its proprietary sourcing technology, innovative mortgage products and homebuying services. Habito’s recently launched propositions Habito Plus, a homebuying service which brings a buyer’s mortgage application, conveyancing needs and surveys under one roof, has experienced a monthly growth of more than 50% since its launch to market in January 2020. This product innovation was followed by the roll-out of Habito’s proprietary broker portal, giving more than 3,000 external brokers exclusive access to Habito’s own buy-to-let mortgage products and Instant Decision technology capabilities in February 2020. The firm is now looking to bring to market a suite of innovative and future-fit residential mortgage products for all types of homeowners. Most recently, Habito launched a Self-Serve Mortgage in Principle designed to give prospective homebuyers the highest degree of certainty and credibility as they begin their property search. Daniel Hegarty, CEO and founder of Habito commented, “At Habito, we’re on a mission to make mortgages easier for anyone who wants to own a home in the UK. For too long, the odds have been stacked against customers who still have to put up with poor service, uncompetitive products and punishing loyalty penalties. The tide is turning on traditional home financing and we’re here to usher in a new future of home financing that combines the very best of human expertise with the efficacy of technology and reduces cost, stress, time and friction for all.” Perry Blacher, Partner at Augmentum Fintech, commented: “We are delighted to have led the Series C round in Habito. It builds on our thesis around digitisation of the largest categories of European financial services. We are excited by what Daniel and the team are doing to reinvent the home buying process'.