Daniel Hegarty

Daniel Hegarty, founder and CEO of Habito

Habito raises £18.5m in Series B funding round

The digital mortgage broker has raised £18.5m from a Series B funding round led by Atomico.

Habito will use the funding to accelerate its growth through additional investment in its consumer-focused technology.

The prop-tech firm will also be working with several major retail banks and high street lenders to integrate its technology and systems directly, in order to achieve its ambition of facilitating real-time mortgage approvals, as well as applications.

In addition, the company has set its sights on reducing friction in other aspects of the mortgage process, bringing its ground-up, customer-first approach to a new but complementary market; home and life insurance.

Daniel Hegarty, founder and CEO of Habito, said: “Since our Series A, we’ve had an amazing response from customers and a period of explosive growth.

“Our best-in-class technology, coupled with our team of first rate mortgage experts, prevents homeowners from ever getting or staying on the wrong mortgage. 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.

“This new funding round led by Atomico has encouraged us to accelerate that ambition and 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.”

Since launching in April 2016, Habito has completed more than a quarter of a billion pounds in mortgage applications whilst advising 50,000 customers, growing more than 50% quarter on quarter since its Series A, and tripling its headcount.

Most recently, the firm added two heavyweight industry experts to its senior management team - Martijn van der Heijden, ex-global head of mortgages at HSBC, and Jenny Watts, former director of lending operations at Metro Bank.

This latest investment round is a further sign of confidence in the market potential of Habito, with Atomico joining some of Europe’s most successful tech entrepreneurs as seed, Series A, and angel investors, including Transferwise CEO Taavet Hinrikus, Funding Circle’s founder Samir Desai, and Yuri Milner.