MortgageGym, which is planning to try and change the way UK consumers access the mortgage market, has announced the successful completion of a seed funding round of £2m ahead of its official launch this summer.
The FCA-authorised service will allow homebuyers in the UK to complete their mortgage application online in 15 minutes through a free, hybrid advice website offering mortgage eligibility matching within 60 seconds, regulated robo-advice and access to live advisors.
MortgageGym has raised more than £1.3m in cash and the balance in technology development finance through deals with three seasoned fintech investors, including Gaby Salem, of London based Wharton Asset Management, China Pacific Capital, a Hong Kong based venture capital fund, and Trifecta Capital, a venture capital firm specialising in providing structured finance to develop emerging technology and business process outsourcing.
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