Habito raises £18.5m of funding

Ryan Bembridge

September 4, 2017

Habito has raised £18.5m of fresh funding to bring its total to £27.5m.

The investment round was led by international venture capital firm Atomico with participation from existing investors Ribbit Capital, Mosaic Ventures, and Revolutionary (Ad)Ventures.

This funding is classed as Series B and will be used to invest in consumer-focused technology and to build up the brand.

Habito’s Jenny Watts leaves two months after becoming COO

Daniel Hegarty, founder and chief executive of Habito, said: “Since our Series A, we’ve had an amazing response from customers and a period of explosive growth.

“Our best-in-class technology, coupled with our team of first rate mortgage experts, prevents homeowners from ever getting or staying on the wrong mortgage.

“We remain committed to rebuilding the mortgage industry with the customer at its centre.

“That means relentlessly improving our product and service, and providing the most convenient, straightforward, and elegant way to apply for a mortgage.

“This new funding round led by Atomico has encouraged us to accelerate that ambition and we’ll continue to invest in an amazing team of engineers, mortgage experts and product designers, to deliver the best mortgage experience in the market.”

Niall Wass, partner of Atomico, said: “When you see a very large inefficient market, with £30bn of annual overspend by consumers in the UK alone, and a business rethinking how to provide a simpler, faster and cheaper service to customers, more targeted access to borrowers, and with lower costs for the lender – there is a lot to like.

“Habito is a solution that is better for both sides of the mortgage market and with a great team executing with technology and customer service at its heart – Habito is a company we are excited to support.”

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