News Alternative Lending

Habito has a new CEO and a fresh round of funding

Former Dynamo CEO Ying Tan is taking over from founder Daniel Hegarty.

ARTICLE10754-habito-has-a-new-ceo-and-a-fresh-round-of-funding.jpg

Ying Tan/Dynamo.

Habito’s founder Daniel Hegarty is stepping aside as the CEO of the digital mortgage broker.

Ying Tan, an entrepreneur and founder of UK mortgage broker Dynamo, will be taking over the role, and has just led the company’s latest round of funding.

The funding round — of an undisclosed amount —  follows on from a £35m Series C round in August 2020 and a smaller £5m raise last September.

Existing investors Augmentum Fintech, SBI Investment, Volution and Bootstrap Europe also took part in the round, and Tan’s investment sees him become a “significant shareholder” in the business.

“I’ve admired Habito from afar since its launch in 2016 and I’m beyond thrilled to have the opportunity to take the company to the next level,” Tan said.

“With the cost of living biting, energy prices sky-rocketing and interest rates at historic highs, it’s more important than ever for UK mortgage-holders and first time homeowners to have access to the very best mortgage and home-buying advice.”

According to the company, it saw “strong volumes” in the first quarter of the year despite tough market conditions, and the new investment will power its next phase of growth “fusing its proprietary technology platform with its highly-acclaimed advice team”.

Hegarty, who has spent a decade in senior leadership roles in fintech, is stepping aside from the company after eight “(mostly) wonderful” years and will continue to support as a shareholder and a cheerleader, he shared in a LinkedIn post.

“Over the past seven years, we’ve been on a mission to make the process of owning and financing a home easier. Habito has helped more than half a million people with their mortgage needs and has doubled down on customer service during a period of great change and uncertainty in the UK housing market,” Hegarty said.

Following his time at Habito, Hegarty plans to focus on his advisory roles, investment portfolio and a new fintech startup.

“I’m tremendously proud of all that we’ve achieved together and I’m excited for all that the future holds for Habito,” he added. 

“Ying is a mortgage industry titan and a phenomenal operator and I can’t think of a leader better suited to the role.”

Tan will join the fintech — subject to Financial Conduct Authority Approval — alongside Penny Desborough, who joins as VP of operations and has been with Tan through his time at Dynamo and most recently at Knowledge Bank, where he is currently non-executive chair.

Companies In This Article

logo
logo
logo

People In This Article

a man with a beard

Daniel Hegarty

CEO and Founder

Habito

More Like This