MoloFinance scores £3.7M seed funding to offer a fully digital mortgage

Jun 6, 2018 · techcrunch.com

Francesca

MoloFinance, a London-based fintech that is developing a "fully digital" mortgage solution, has closed £3.7 million in seed funding. The round is led by Ubon Partners, a Nordic fund specialised in financial services, and will be used to launch the company’s first product release later this summer.

Initially targeting ‘Buy to Let’ mortgages — i.e. people looking to buy property as an investment — while the company works through its regulatory approval process with the FCA, MoloFinance wants to offer an end-to-end mortgage process that is entirely digital and with the ability to give a near-instant decision.

The idea, says the startup, is to provide a frictionless experience for the customer whilst helping to eliminate any unnecessary costs related to the current process. Once FCA approved, MoloFinance plans to begin offering residential mortgages, too.

Read Complete Article

RT @TechSinAdv: Tim Berners-Lee launches open source project Solid to decentralize the web and place users in control of data - https://t.…

The Government today unexpectedly postponed a law restricting offensive weapons, with no clear timeline given. With… https://t.co/RjQG7h2ArX

#TechX365: As more and more people work out of coffee shops on public WiFi, greater caution needs to be taken that… https://t.co/Z0HqKQ3o05

Saudi threat creates rare crack in US oil alliance https://t.co/QiM7hphJyw

Raspberry Pi A+-sized $10 La Frite Linux board has better specs at half the price https://t.co/ru9ZtbDcKR by @LiamT