Mortgage industry disrupter Smartr365 has secured £5 million in funding to grow the team and enhance the technology platform.
With mortgage intermediaries representing 90% of the UK mortgage sector and 25% of these intermediaries using Smartr365, the platform is recognised as a leader in the space.
Smartr365 was founded by Conor Murphy to address the inefficiencies and frustrations he identified within the antiquated mortgage industry. The platform automates the entire mortgage process and integrates all key stakeholders, including brokers, estate agents, homebuyers, and lenders.
This latest investment will be used to further develop the platform, complete client and third-party integrations, and expand the sales and customer success teams.
It will also help increase the usage of Smartr365’s marketplace, including the growing volume of automated direct-to-lender applications – a technology that Smartr365 pioneered for the sector.
New investor Pembroke VCT led the round alongside Calculus Group and Smart Currency.
The company’s client base includes Legal & General, Sesame, Openwork, and Just Mortgages. By connecting these distributors to large-scale lenders like Halifax, Nationwide, NatWest, and Barclays, Smartr365 claims to simplify complex and time-consuming tasks, such as compliance checks, mortgage tracking, and document management.
Conor Murphy, CEO & Founder of Smartr365, said: “We are incredibly excited about the next phase of growth for Smartr365. This investment will allow us to further enhance our platform and ensure that we continue to meet the evolving needs of our clients in the mortgage and protection sector.
“We are on a mission to transform an industry that has long been bogged down by inefficiencies, and this funding will enable us to expand our reach, increase adoption, and continue innovating. The support from Pembroke VCT, Calculus VCT and our other investors is a testament to the strength of our technology, our vision, and our team.”
Fred Ursell, investment director at Pembroke Investment Managers LLP added: “We invested in Smartr365 because of its exceptional leadership team, strong market positioning, and innovative technology.
“With a proven founder in Conor who deeply understands the mortgage industry’s challenges and opportunities, Smartr365 is transforming the sector with its user-friendly, data-driven platform.”
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