Habito just gained a huge £18.5m of funding from an international tech firm

The PropTech startup Habito, a free online mortgage broker, has secured £18.5m of funding from Atomico.

Whilst Atomico led the investment, other companies like Ribbit Capital and Mosaic Ventures, have helped bring in a total amount of over £27.5m for London-based Habito.

The company raised a £5.5m Series A back in January this year, using a mixture of human knowledge and artificial intelligence to select mortgage deals for its consumers. It does so by analysing over 20,000 mortgage products across 70 lenders in real time.

Speaking to UK Tech News, the founder and CEO of Habito, Daniel Hegarty, commented: “We remain committed to rebuilding the mortgage industry with the customer at its centre.

“That means relentlessly improving our product and service, and providing the most convenient, straightforward and elegant way to apply for a mortgage.”

Habito has plans to delve into the home and life insurance industries, whilst currently developing insurance products that are tailored to each mortgage applicant’s needs.

The business is also said to be working with various retail banks and high-street lenders to integrate its technology so it can facilitate real-time mortgage approvals as well as applications.

Hegarty continued: “We will continue to invest in an amazing team of engineers, mortgage experts and product designers, to deliver the best mortgage experience in the market.”

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