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PropTech startup Trussle raises £4.5m in round led by Orange Growth Capital

Online mortgage
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Trussle, an online mortgage broker, has raised £4.5m in a Series A round led by Orange Growth Capital.

Existing investors LocalGlobe, Zoopla and Seedcamp also participated in the round, alongside Angel investors Ed Wray, co-founder of Betfair and Ian Hogarth, co-founder of Songkick.

The PropTech startup, which raised a £1.1m Seed round back in February last year, has now managed £1bn worth of mortgages for UK homeowners.

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Ishaan Malhi, CEO and founder of Trussle commented: “We’re helping thousands more customers every month, and have signed several high-profile partnerships that allow us to reach over 90% of the home-owning population.

“All together it’s validation that we’ve uncovered a real consumer problem, and the technological innovation we’re starting to see from new entrants, as well as traditional brokers, suggests our innovative approach is having a real snowball effect,” he added.

Achievements

In September, Trussle launched a partnership with property portal Zoopla to enable buyers to find and finance their new home in one online journey. The firm also won the Best in PropTech award at Tech City News’ Elevator Pitch LIVE 2016 competition, and has recently been selected to join Tech UK’s Upscale 2017 programme.

The startup says it will use the new funding to further develop the product and brand.

Radboud Vlaar, founder and partner of Orange Growth Capital, said: “We’re very excited about our investment in Trussle, which is leading the transformation of how people think and interact with their mortgage. As a team, not only do they have great consumer financial experience, but like us, they’ve experienced the antiquated process of getting a mortgage first hand.

“This investment reaffirms the innovation taking place in the UK’s FinTech market,” he concluded.

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