MortgageGym, a London-based mortgage robo-adviser, has raised a £2 million seed round from Trifecta Capital, China Pacific Capital, and Gaby Salem of Wharton Asset Management.
The property tech (or proptech) service, which is regulated by the Financial Conduct Authority (FCA), gives buyers access to free online mortgage application advice and eligibility matching. It plans to launch this summer and will announce distribution partners in the coming months.
“MortgageGym is committed to revolutionising the mortgage market through a whole-of-market, digital, free and accurate application process, which is the first of its kind,” said John Ingram, CEO of MortgageGym.
“We will provide mortgage applicants with peace of mind by advising them on mortgages they can realistically attain based on the strict affordability grounds laid out in the FCA’s Mortgage Market Review.”
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