Mast raises £1.2m for cloud-native mortgage platform

London-based fintech Mast Technologies has raised £1.2m for its digital platform to support mortgage lenders and borrowers.

Founded in 2020, Mast built a cloud-native platform to simplify the mortgage origination process.

Traditionally, borrowers have had to wait up to 60 days for the results of a mortgage application. Mast claims to solve the problems of the traditional mortgage system by streamlining the process in which lenders can review applications.

With the new funds, Mast will continue to develop its workflow tools and automation processes.

“Since launching with our first client, we have significantly improved conversion rates and time to offer lead times,” said Joy Abisaab, co-founder and CEO of Mast.

“We are building the platform with direct and close input from lenders and brokers. This funding will allow us to significantly accelerate the product roadmap and engineering speed.

The new funding round was led by early stage venture capitalist Antler VC, along with participation from a series of notable angel investors.

“Over the past 15 years, we have seen dramatic innovations in the financial landscape, but mortgage technology has lagged behind improvements in consumer services. Now is the time to upgrade the lending technology.

“We were impressed from the start by the drive of Mast’s co-founders, who immediately stood out,” said Antler partner Jed Rose.

Mast’s latest funding round also featured participation from prominent industry figures including the founders of Booking.com, Monzo and ThirdFort, as well as senior executives from Pivotal, VMWare, Jones Lang Lasalle, Thought Machine, Airwallex and more.

“Having supported the team with its first investment, we are excited to lead this next round as well. extensive industry experience and new technologies to solve this decades-old problem in lending.

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