Automated mortgage marketplace Morty has raised $3m in a Seed round led by Thrive Capital.
SV Angel, FJ Labs, Corigin Ventures, MetaProp, Techstars and angel investors also participated.
The New York-based startup is launching with 10 major lenders signed up across 10 US markets and aims to help homeowners make better decisions through its automated marketplace.
Morty CEO and co-founder Brian Faux explained: â€œConsumers today can effortlessly shop, compare and purchase nearly everything onlineâ€“not their mortgage.
â€œEven with todayâ€™s technology, the mortgage industry still has it all wrong. The last thing anyone wants to do is talk to a sales person or pay inflated fees.
â€œMorty strives to do for mortgages what Kayak and Expedia did for the travel industry â€“one simple, transparent process giving you access to the best options and empowering you to make smart decisionsâ€
The company was founded in 2015 and aims to be nationwide in the US by the end of the year.
Thrive Capital has placed an emphasis on FinTech this year having led German savings marketplace Raisinâ€™s â‚¬30m Seires C and UK challenger bank Monzoâ€™s Â£19.5m round.
It also participated in investment app Robinhoodâ€™s recent $110m round, which values the startup at $1.3bn.
The New York firmâ€™s Kareem Zaki said: â€œDespite the proliferation of new marketplace businesses, the mortgage industry has yet to evolve.
â€œMorty offers a differentiated approach by providing optionality and a modern experience to the consumer while leveraging the balance sheets and capital efficiencies of banks and other lender partners.”
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