Habito raises £18.5 in funding for online mortgage brokerage
Proptech start-up Habito has raised £18.5m ($24.2) in Series B funding to develop its service for identifying mortgage products. The mortgage broker combines artificial intelligence with human experience to identify the best deals. Habito will use the funding to develop real-time mortgage approvals and applications capabilities in partnership with several major retail banks and high street lenders. It will also develop insurance products that suit the needs of mortgage applicants.

PropTech startup Habito has secured an £18.5m Series B funding round led by Atomico.

This brings the total amount raised by the London-based digital mortgage broker to over £27.5m.

While Atomico led the round, other participants included existing investors Ribbit Capital, Mosaic Ventures and Revolutionary (Ad)Ventures.

Habito, which raised a £5.5m Series A back in January of this year, uses a combination of artificial intelligence and human expertise to select mortgage deals for customers. It analyses over 20,000 mortgage products across 70 lenders in real time.

It claims to be working with several major retail banks and high street lenders to integrate its technology so it can facilitate real-time mortgage approvals, as well as applications.

The firm also plans to enter the home and life insurance spaces and is currently developing insurance products that are tailored to the needs of mortgage applicants.

Daniel Hegarty, founder and CEO of Habito, said: “We remain committed to rebuilding the mortgage industry with the customer at its centre. That means relentlessly improving our product and service, and providing the most convenient, straightforward, and elegant way to apply for a mortgage.”

He went on to say the new funding round has encouraged the team to accelerate its ambitions.

“We’ll continue to invest in an amazing team of engineers, mortgage experts and product designers, to deliver the best mortgage experience in the market,” he concluded.