MortgageGym secures ?2m for regulator-friendly robo-advisor

Mortgage robo-advisor MortgageGym has raised ?2m in a Seed funding round ahead of its launch in the summer.

The funding for the London-based startup comes from Gaby Salem of private family office Wharton Asset Management, as well as venture capital firms China Pacific Capital and Trifecta Capital.

MortgageGym FCA-authorised service aims to enable homebuyers to complete mortgage applications in 15 minutes.

The free website aims to offer mortgage eligibility matching within 60 seconds, regulated robo-advice and access to live advisors.

Company founder and CEO John Ingram commented: ?We are thrilled to have secured such a significant vote of confidence in MortgageGym proposition from well-respected investors.

?MortgageGym is committed to revolutionising the mortgage market through a whole-of-market, digital, free and accurate application process, which is the first of its kind.

?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 Mortgage Market Review.p>

The company plans to announce its strategic distribution partnerships within the next three months following the funding round.

Copyright ? 2017 FINTECH GLOBAL

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