London’s Acre has raised £6.5 million in a new funding round as it continues on its path of digitising and automating the home buying process on the intermediaries' side of the equation.
The newest capital was provided by The McPike Global Family Office (MGFO), aka the family office of elusive Starling bank backer Harold McPike, and joined by existing investors Aviva and Founders Factory.
Buying a home. As anyone who’s gone through the process will tell you; just avoid it at all costs. It’s a nightmare. Sleepless nights, countless emails, phone calls, stress, and … oh yes, the one shining light at the end of the tunnel, a roof over your head you can call your own. Or at least the bank calls it theirs and you can pay them back for it over time.
However stressful the process is for buyers and sellers, there are the intermediary parties (love them or hate them) involved, and let’s be fair, these folks don’t exactly have the easiest job in the world either. Looking to make this process just a bit easier for them is where Acre enters stage left.
In addition to putting the power of blockchain tech to work in the field of finding and offering the best possible mortgage, Acre also offers intermediaries several tools that automate compliance and aim to make the entire process of obtaining a mortgage all the more compliant and ultimately cheaper for buyers. Hopefully.
“For many homebuyers, the financial turmoil of last year led to a greater appreciation of mortgage brokers, and this trend is continuing into 2023. We 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,” commented Acre founder and CEO Justus Brown.