UK mortgage broker Trussle collects £13.6m in Series B

UK-based online mortgage broker Trussle has closed a £13.6m funding round led by Goldman Sachs Principal Strategic Investments and Propel Venture Partners.

Other contributions to the Series B came from existing backers Finch Capital, and Seedcamp.

Launched in 2016, the company helps customers to calculate what mortgage they could afford, find the best offer and monitor remortgage prices. The free-to-use service compares a customers mortgage in the market everyday to ensure they have the best deal.

Trussle launched its continuous mortgage monitoring service last year, which alerts customers when they can save money by switching deals.

With this batch of funding, Trussle hopes to invest in its brand and product to accelerate its position in the market.

Trussle CEO and founder Ishaan Malhi said, “Since launching two years ago, we’ve worked tirelessly to create a better mortgage experience for consumers. One that respects their time, wallet and aspirations. Every year millions of existing and aspiring homeowners are failed by the industry’s shortcomings and we exist to fix that.”

Last year, the company picked up £4.5m in its Series A round led by Finch Capital, which was known as Orange Growth Capital at the time.

Trussle is calling the government to introduce a mortgage switch guarantee which would provide more protection to customers when they swap deals, according to the company.

Goldman Sachs has been very active in the FinTech market this year. The firm recently led the $64m Series C investment into BigCommerce, a website developer to help retailers create their online stores and accept payments.

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