Fig has led the investment of £1m into London-based Fintech company, Smartr365.
Smartr365 is a platform for mortgage brokers and banks that uses state-of the-art technology to significantly improve the mortgage application process for customers, advisers and lenders. It is the sister firm to mortgage broker Capricorn Financial.
The investment will be used for software development, and to deliver an API for early 2018. The Smartr365 technology platform allows direct submission of applications to lenders, auto case updates and tracking, alongside other consumer-facing tools and technologies, automating the mortgage journey from start to finish. It has partnerships with MOGO and property valuation firm Hometrack.
James King, Director of Fig, said: “Smartr365 presents a market-leading solution that combines the best technology available in one, easy-to-use platform. The proven track record as Capricorn’s in-house platform makes Smartr365 attractive to brokers and to us as an investment opportunity.”
Conor Murphy, CEO of Smartr365, said: “We are different to other companies in the mortgage-tech space right now. Others are either looking to build a new brokerage from scratch, or use technology to create a new network to run themselves.”
He added: “We see technology as an enabler and we have genuine belief in the existing broker community and their ability to deliver great advice. Our aim is simply to make today’s brokers even more efficient and successful.”
For more information on Smartr365, visit their site.