Australia-based digital mortgage broker Uno has received $16.5m in a funding round led by a strategic investment from financial services firm Westpac.
Unnamed additonal backers also took part in the round but Westpac is Uno’s majority shareholder, according to its website, though it is not clear whether that was already true ahead of the funding round, as the firm helped develop the startup from concept phase. Uno has not disclosed any previous funding.
Uno’s web and mobile apps, launched in May 2016, let consumers search for and compare personalised home loan products from domestic providers including Westpac. The company also offers free advice from human experts, who can negotiate deals on the customer’s behalf.
Vincent Turner, chief executive of Uno, said: “We have grown to 34 employees to meet the service demands of thousands of registered customers who have used the platform to compare more than $400m worth of mortgages.
“With the support of our investors we have worked hard to test and enhance the customer experience, as well as finesse the functionality of our original platform to include options such as new calculators and video chat.”