London start-up Habito has raised £18.5 million in Series B funding so it can continue to focus on its business: which aims to bring the entire mortgage process online.
The funding round was backed by Atomico, a leading European VC firm founded by Skype's Niklas Zennström with participation from existing investors Ribbit Capital, Mosaic Ventures, and Revolutionary (Ad)Ventures.
TechCrunch reports that the capital raised by Habito will in part be used to integrate its technology with major retail banks and high street lenders to facilitate “real-time mortgage approvals”, in addition to marketing and other product development. The startup says it also plans to expand its offering to other parts of the mortgage process, namely home and life insurance.
Earlier this year the start-up made headlines after it became the world's first online mortgage broker to launch a chatbot, and raised £5.5m in Series A funding that was led by Silicon Valley-based Ribbit Capital, with participation from existing investor Mosaic Ventures.
The total amount raised by Habito is now at just over £27 million.