Rabo Frontier Ventures (RFV), the strategic investment fund of Rabobank, has contributed to a £7.5 million funding round in online UK mortgage broker Trussle
The Dutch bank was joined by existing investors Goldman Sachs Growth, Finch Capital and BBVA-backed Propel Venture in backing the firm, which last raised £13.6 million in Series B financing in May 2018.
Trussle is one of a new breed of fintech startups that uses proprietary automation and a mortgage monitoring service to compare and track thousands of mortgage products from more than 90 lenders.
Harrie Vollaard managing director of RFV, comments: “We’re looking forward to working closely with Trussle on the next phase of their journey to redesign the mortgage application process, as well as additional services to better support their customers through the home ownership journey.”
Trussle chairman, Simon Williams, says the five-yeard old business has reached a pivotal stage in its growth trajectory. "There’s ample work to be done in revolutionizing this archaic industry," he says. "This new funding will enable us to accelerate our progress, especially through investment in our technology, to make the mortgage process quicker, easier and more transparent. The funding from our investors not only exemplifies the progress we’ve made so far, but also the scale of the opportunity that lies ahead.”