End-to-end mortgage platform, Smartr365, has secured further funding from investors, alongside a pre-money valuation of £50m.
Legal & General, which has supported the business since 2018, has provided additional funds.
Smartr365 currently has 3,500 broker clients, following growth of more than 500% in 2021, and is forecasting to see its 8,000th user by the end of the year.
Following this round of investment, Smartr365 says it will onboard new partners and integrate Experian’s Work Report tool, which will allow users to access pay slips at source and deliver an automated income verification process.
This follows Smartr365’s integration of Experian’s open banking and credit referencing services in December 2021.
Conor Murphy, founder and CEO, Smartr365 and Capricorn Financial Consultancy, said: “This is an exciting time for Smartr365, with this latest investment demonstrating our strong position in the market and propelling our continued fast growth. The combined expertise and market impact that Smartr365 and Legal & General have make this investment a strong strategic fit, and we are excited to integrate further capabilities into our market-leading platform.
“Together, our services are continuing to revolutionise the market for brokers, introducers, lenders and buyers. We have always believed that a fully automated customer journey is the future of the industry and I am delighted that we have been able to turn this vision into reality.”
David Lundholm, non-executive director, Smartr365 and director, new income streams, Legal & General added: “Legal & General believes that the UK mortgage market needs further innovation and transformation to benefit borrowers, brokers and lenders. We are delighted to demonstrate our continued support for Conor and the team with additional investment.”
