MortgageGym has announced the completion of a seed funding of £2m ahead of its official launch this summer.
The robo-adviser hopes to change the nature of mortgage advice in the UK by allowing homebuyers to complete their mortgage application online in 15 minutes.
MortgageGym has raised over £1.3m in cash and the balance in technology development finance through deals with three fintech investors.
The adviser expects to announce its strategic distribution partnerships within the next three months.
John Ingram (pictured with co-founder and chief operating officer David Vertannes), chief executive and co-founder of MortgageGym, said: “We are thrilled to have secured such a significant vote of confidence in MortgageGym’s proposition from well-respected investors.
“We will provide mortgage applicants with peace of mind by advising them on mortgages they can realistically attain based on the strict affordability grounds laid out in the FCA’s Mortgage Market Review.”