Trussle is a U.K. online mortgage broker that moves the entire mortgage process online to increase transparency and simplify switching and applications. The company uses data and machine learning to power services such as its mortgage monitoring tool, which alerts customers when a cheaper deal is available. Trussle is shifting from a transactional offering to a “lifetime proposition” that supports customers from first thinking about home ownership through ongoing financed ownership. Product development is a major focus — a significant portion of the team is in product — and the company is exploring additional data-driven features (for example guidance on overpaying and repayment dashboards). Trussle also says it may pursue partnerships with other fintech startups aligned to making home ownership more affordable. The team has grown from 14 to 70 people since its Series A in February 2017. Trussle is a London-based online mortgage broker that uses proprietary automation and a mortgage-monitoring service to compare and track thousands of mortgage products from more than 90 lenders. Led by CEO and founder Ishaan Malhi, the company has formed partnerships to integrate home search and financing, notably launching a partnership with property portal Zoopla in September 2016. Further partnerships include comparison site uSwitch, online estate agent HouseSimple, and credit bureau Noddle. FinSMEs reported that Trussle raised £4.5m ($5.68m) in funding. The round was led by Orange Growth Capital with participation from existing investors LocalGlobe, Zoopla and Seedcamp, and angel investors Ed Wray and Ian Hogarth. The company intends to use the funds to further develop the product and continue growing the brand. Trussle is a London-based online mortgage advisor that uses proprietary software to scour thousands of mortgages and recommend the best available deal. Its core product is a free-to-consumer mortgage "matchmaking" service that manages the end-to-end mortgage process if customers proceed. Trussle monetizes via a mostly flat fee paid by mortgage providers rather than charging end customers. The company automates ongoing checks throughout a mortgage’s lifetime and notifies users when they can switch to a better deal, which it says could save customers about £4,000 per year on average. That continual relationship underpins a path to recurring revenue by encouraging more frequent remortgaging. Trussle positions itself as a cheaper, faster, and more transparent alternative to traditional, labour-intensive high-street brokers and aims to scale that model across U.K. homeowners, who it estimates are losing £29 billion a year by failing to re-mortgage.

Total raised

$26M

Funding rounds

3

Latest round

Series B

Latest activity

May 2018