Perenna is a UK-based mortgage market company building an innovative digital mortgage bank. Its launch product is a flexible 30-year fixed-rate mortgage intended to provide full payment certainty and protect borrowers against interest rate rises. The company plans to roll out fixed-rate mortgage products more broadly. Perenna also aims to improve the financial infrastructure of the region. The company raised USD $52M in funding to support these initiatives. Perenna is a London-based fintech building a technology-centric mortgage lender that aims to bring fixed-for-life, 30-year fixed-rate mortgages to the UK. The company plans to finance its products using long-term covered bonds inspired by the Danish mortgage model and will offer features such as portability and early repayment charges limited to the first five years. Perenna intends to target a wide range of borrowers, including first-time buyers able to take out mortgages with a 5% deposit. The team is led by CEO and co-founder Arjan Verbeek and includes co-founders Colin Bell and Hamish Peacocke. Perenna raised $10M (nearly £7.3M) from a group of investors and will use the funds to obtain a banking licence and launch its lending proposition in summer 2021. The company says its approach could help release equity from homeowners and potentially increase the UK mortgage market by £500B over the next five years.

Total raised

$62M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2023