As part of the Series C extension, Habito will also join the growing number of high-growth UK firms who’ve secured investment from the Treasury’s Future Fund, announced by the Chancellor in April 2020.
Digital mortgage disruptor Habito, which has 330,000 customers in the UK, has closed a £35m Series C fundraise, including money from the UK Government's flagship Future Fund.
The new cash will be used to further accelerate Habito’s growth and brings the total amount of investment to more than £63m since its launch to market in 2016.
The overall investment round (comprising a Series C equity raise and Series C extension in the form of a convertible loan note) was led by venture capital firms including Augmentum Fintech, SBI Group and mojo.capital, with participation from existing investors including Ribbit Capital, Atomico and Mosaic Ventures.
Daniel Hegarty, CEO and founder of Habito commented, “At Habito, we’re on a mission to make mortgages easier for anyone who wants to own a home in the UK. For too long, the odds have been stacked against customers who still have to put up with poor service, uncompetitive products and punishing loyalty penalties. The tide is turning on traditional home financing and we’re here to usher in a new future of home financing that combines the very best of human expertise with the efficacy of technology and reduces cost, stress, time and friction for all.”
Yoshitaka Kitao, SBI Group CEO said, “Digital transformation has finally come to the UK mortgage broking and lending industry, and it's clear Habito is leading the charge. We believe Habito's underwriting capabilities and customer-focused mortgage product development will continue to make it a driving force of change for the benefit of homeowners across the nation. We’re delighted to play a part in Habito’s bright future.”
Royal Parks Partners acted as financial advisor to Habito and its shareholders for the deal.