Habito, the UK’s digital mortgage broker, has managed to raise £5.5 million in Series A funding led by Silicon Valley-based Ribbit Capital, with existing investor Mosaic Ventures also participating.
Habito plans to use the new inflow of capital to step up its rapid growth, improve upon the technology behind its award-winning service and change the face of the outdated mortgage industry for millions of homeowners and new buyers across the country.
Making the scores of Britons either overpaying on their mortgage or terrified to even start the application process their target, habito has developed a simple, fast and transparent way to get people the best mortgage possible. Since launching in April 2016, habito has helped more than 20,000 people better understand their mortgage and has completed £50 million in mortgage applications.
Habito’s success until today is symbolic of a shift in how consumers want to engage with financial services. Over 90% of habito’s customers prefer using live chat over a phone conversation to complete and submit their mortgage application.
Habito has also developed a revolutionary chatbot, Digital Mortgage Adviser, using artificial intelligence, which has succeeded in halving the average amount of time spent on each case. Their team of industry-leading mortgage experts form a strong foundational backup since they are…