Participated · Equity · Sep 2018

MortgageGym is an FCA-regulated mortgage robo-adviser that allows UK homebuyers to complete their entire application online in about 15 minutes via a free portal combining robo- and live-broker advice. It also operates a digital mortgage network and a professional portal, MortgageGym Pro, which enables brokers to acquire customers independently, operate paperless businesses, and remain MMR-compliant. The company maintains bank scorecards with Barclays, Coventry Building Society, Accord Mortgages, Platform Mortgages (The Co-operative Bank), Leeds Building Society, The Family Building Society, Aldermore, The West Bromwich, Clydesdale Bank and Skipton Building Society, and is onboarding five further top-tier lenders. Formed in 2016 by John Ingram and David Vertannes and based in London, MortgageGym has pursued integrations with marketplace partners, including almost a year-long integration with GoCompare. Following a £3.8m funding round that values the business at £12m and a prior £2.5m seed round in 2017, the company plans to invest the new capital into ongoing development of its mortgage robo-advice and artificial intelligence services. The company also promoted Jeremy Moll from Chief Commercial Officer to Managing Director. Founded in 2016 by John Ingram and David Vertannes, MortgageGym is a regulated mortgage robo-adviser bringing a hybrid digital advice platform to UK homebuyers. The service offers mortgage eligibility matching within 60 seconds, regulated robo-advice and access to live advisors, and aims to let users complete an entire application online in 15 minutes. The platform is being brought to market in partnership with Experian and is fully integrated with users' credit files and the credit risk scorecards of leading UK mortgage lenders. The business was authorized by the FCA in February 2017 and was due to launch to the public in summer 2017. Financially, the company disclosed a personal investment of £500k from Henry Ritchotte; no other financing details or operating metrics were reported in the article. Ritchotte has been named an adviser to the company. MortgageGym is an FCA-authorized, London-based regulated mortgage robo-adviser founded in 2016 by John Ingram and David Vertannes. The company operates a free hybrid advice website that lets homebuyers complete mortgage applications online in about 15 minutes, offers mortgage eligibility matching within 60 seconds, regulated robo-advice and access to live advisors. MortgageGym is integrated with users' credit files via a partnership with Experian and uses the credit risk scorecards of 12 of the top 20 mortgage lenders to provide live eligibility matching and affordability advice. It also functions as a digital mortgage network, enabling brokers to acquire customers independently and remain MMR-compliant through MortgageGym Pro. The company completed a £2m seed funding round and will use the proceeds to finalize development ahead of an official launch planned for the summer. MortgageGym expects to announce strategic distribution partnerships within the next three months.