The funding comes via venture capital firm Localglobe, as well as Songkick co-founder Ian Hogarth, Betfair co-founder Ed Wray, and ex-Google UK MD Dan Cobley.
In December, the firm launched its free service that automatically determines when borrowers are paying over the odds for their mortgage and helps them switch products.
It is also available for first-time buyers and promises to find, apply, and manage the entire mortgage application process.
For existing homeowners, Trussle’s technology compares a borrower’s current mortgage against over 10,000 others, instantly recommending if a user should switch, and how much they could save.
Unlike banks, comparison sites or independent advisers, Trussle says it is ‘always on’ to ensure borrowers are notified when a better deal is available, and manages the entire remortgage process for them.
Ishaan Malhi, Trussle’s chief executive, said:
“Trussle was designed to be frictionless, fast and transparent – in other words, everything the traditional mortgage market isn’t.
“Ultimately our goal is a simple one: to save you money and be the most trusted financial partner for managing the biggest financial decision of your life.”
