Mortgage intermediaries platform Acre has announced it has secured a £6.5m investment to grow its tech platform.

The McPike Global Family Office (MGFO), has joined returning investors Aviva and Founders Factory, to provide new funds. Acre said it hopes the funds can further its ambition to digitise the home buying journey to buying and deliver new ways to support brokers’ businesses.

Last year, Acre’s new platform grew to more than 1,300 users, representing over £10bn in annual mortgage volume, which was a 10 times growth over the year. The platform signed its first protection-only firm, Intrinsic House, and saw a number of UK networks, including Cornerstone Finance Group and Beneficial Network, join the Acre system. Integrations with five lenders also went live, including Santander and TSB.

Following this investment, Acre said it will continue its customer growth and pursue its vision of changing the way people buy homes. The intermediaries platform plans to roll out new partnerships with lenders and insurers that help its brokers recommend and apply for the right financial products and services as efficiently as possible.

“We pride ourselves on being at the forefront of innovation in financial advice, delivering a new, modern approach that simplifies the advice journey for brokers and delivers on the needs of clients,” said CEO and founder of Acre, Justus Brown.

“This latest fundraise demonstrates our strength and commitment to the market and supercharges our ambitions as the tech platform of choice for brokers.  

“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.”

Head of venture investments and partnerships at Aviva, Ant Barker, commented: “Acre represents the future of a tech-led mortgage market. Aviva Ventures are delighted to continue to support Justus and his team on Acre’s journey to deliver much needed tech innovation that benefits homebuyers, brokers and lenders.”

Private investments manager with MGFO, Drew Colaiezzi, added: “We are excited to further our partnerships with Founders Factory and Aviva, and believe Acre is truly an all-encompassing innovative platform that is ripe to take advantage of the quickly evolving UK mortgage market. 

“Justus is a phenomenal operator and has positioned Acre to scale rapidly while demonstrating its significant market disruption capabilities.”

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