London, United Kingdom-based provider of a platform for mortgage intermediaries, Acre raised EUR 7.3 million in recent funding. The company announced the fundraise on April 3, 2023. McPike Global Family Office (MGFO) led the financing for the company. Meanwhile, existing investors such as Aviva and Founders Factory joined in the financing.
Purpose of investment for Acre
With the latest capital injection, Acre seeks to maintain its growth. It also intends to pursue the vision of radically changing how people buy homes.
Meanwhile, the company is on the lookout for new partnerships with lenders and insurers that help its brokers recommend and apply for the right financial products and services as efficiently as possible.
What the company’s CEO has to say
Justus Brown, CEO and founder of Acre, said, “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. This latest fundraise demonstrates our strength and commitment to the market and supercharges our ambitions as the tech platform of choice for brokers.”
He further added, “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.”
What the investors have to add
Ant Barker, Head of Venture Investments & Partnerships at Aviva, 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.”
In addition, Drew Colaiezzi, private investments manager with MGFO, said, “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. Grateful for the opportunity to be a part of leading the charge in the technology revolution within the UK mortgage market.”
About the company
In 2018, Justus Brown launched the company. Acre’s broker platform leverages blockchain technology to let data play the centre role in getting a mortgage. It makes the overall process more informed, accurate and smoother.
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