Mortgage platform, Acre, has secured a 拢6.5m investment to grow its tech platform and revolutionise the process of buying a home.
The McPike Global Family Office (MGFO), joins returning investors Aviva and Founders Factory, to provide new funds to further Acre鈥檚 ambition to digitise the homebuying journey to buying and deliver new, innovative ways to support brokers鈥� businesses.
鈥岮cre鈥檚 new funding follows a successful 2022, which saw the one-click mortgage intermediaries platform grow to over 1,300 users, representing over 拢10bn in annual mortgage volume, a 10x growth over the year.
The platform signed its first protection-only firm, Intrinsic House, and saw a number of the country鈥檚 fastest-growing networks, including Cornerstone Finance Group and Beneficial Network, join the Acre ecosystem.
Integrations with five lenders also went live, including Santander and TSB.
Following this investment, Acre will continue its rapid customer growth and pursue its vision of changing the way people buy homes.
Acre plans to roll out new partnerships with lenders and insurers that help its brokers recommend and apply for the right financial products and services as efficiently as possible.
The company believes that in order to deliver on this vision, client data and identity needs to be entered and verified once and shared across the whole homebuying process.
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The FinTech鈥檚 ongoing evolution comes at a time when lending is increasingly complex due to the difficult economic climate, and brokers鈥� increased responsibility for outcomes for their customers.
Justus Brown, CEO and founder of Acre said: 鈥淲e pride ourselves on being at the forefront of innovation in financial advice, delivering a new, modern approach that simplifies the advice journey for brokers and delivers on the needs of clients.
鈥淭his latest fundraise demonstrates our strength and commitment to the market and supercharges our ambitions as the tech platform of choice for brokers.
鈥淔or many homebuyers, the financial turmoil of last year led to a greater appreciation of聽 mortgage brokers and this trend is continuing into 2023.
鈥淲e give brokers the right tools, data and insight at the click of a button, so that they can excel at delivering speedy, efficient advice that meets the individual requirements of each case in a dynamic market.鈥�
Ant Barker, head of venture investments and partnerships at Aviva, added: 鈥淎cre represents the future of a tech-led mortgage market. Aviva Ventures are delighted to continue to support Justus and his team on Acre鈥檚 journey to deliver much needed tech innovation that benefits homebuyers, brokers and lenders.鈥�
Drew Colaiezzi, private investments manager with MGFO, added: 鈥淲e are excited to further our partnerships with Founders Factory and Aviva, and believe Acre is truly an all-encompassing innovative platform that is ripe to take advantage of the quickly evolving UK mortgage market.
鈥淛ustus is a phenomenal operator and has positioned Acre to scale rapidly while demonstrating its significant market disruption capabilities. Grateful for the opportunity to be a part of leading the charge in the technology revolution within the UK mortgage market.鈥�
The聽latest investment follows Acre鈥檚 earlier 拢5m fundraise in 2019, which was led by Aviva and Sesame Bankhall Group (SBG), and followed its spin-out from Founders Factory鈥檚 venture studio.
The investment follows Acre鈥檚 earlier 拢5million fundraise in 2019, which was led by Aviva and Sesame Bankhall Group (SBG), and followed its spin out from Founders Factory鈥檚 venture studio.