Trussle has secured £13.6m in financing from a group of leading international investors led by Goldman Sachs Principal Strategic Investments and Propel Venture Partners in its Series B funding round.
Along with Goldman Sachs and Propel Venture, the fintech firm also received funding from Finch Capital, which led Trussle’s Series A fundraising round, and Seedcamp which the firm said has “backed the company” since it was founded.
Since its first fundraising round in February 2017, Trussle has seen its team expand from 14 people to 70, while also launching its first continuous mortgage monitoring service last year, which constantly monitors the mortgage market and alerts a customer when they could save money by switching to another deal.
Trussle founder and CEO 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.
“The backing from two prolific and globally renowned FinTech investors recognises the brilliant progress we’ve made, but also the scale of our ambition. The funding will enable us to invest significantly in building our brand and our product but fundamentally, will accelerate us towards our vision of digitising the end-to-end journey to make home ownership more affordable and accessible to all.”
Goldman Sachs further commented on the funding, with its managing director Philip Aldis stating: “Trussle is at the forefront of revolutionising the UK mortgage market, making it more efficient and convenient for consumers to find the right mortgage. We look forward to supporting the company’s ambitious growth plans.”
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