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May 10, 2018

Trussle raises €15.5m in fresh funding round

London-based online mortgage brokerage firm Trussle has secured €15.5m financing in a Series B funding round from a group of global investors.

The funding round was led by Goldman Sachs Principal Strategic Investments and Propel Venture Partners, a fund backed by European bank BBVA.

It was also joined by venture capitalist Finch Capital, which led Trussle’s Series A fund raising round; and seed funding firm Seedcamp.

Founded in 2016, the fintech firm manages a mortgage monitoring service that monitors the market and offers consumers a fairer, faster and more transparent mortgage deal.

Trussle CEO and founder 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 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.”

Since the last fundraising round in February 2017, in which it raised £4.5m, Trussle’s team has grown from 14 to 70.

The company has urged the government of UK to launch a Mortgage Switch Guarantee to reduce the £10bn wasted by home owners per annum by choosing the wrong deal.

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