Acre, a UK-based FinTech startup, recently raised €7.3M for its tech platform that is revolutionizing the real estate purchasing process. The London-based team now has expansion and partnership-building on the agenda.
One of the most stressful experiences in life is purchasing a house. It’s a significant endeavor that calls for a lot of endurance, tenacity, and bravery. It is a lengthy process that costs a lot of money and takes a long time because of the papers and the slow procedures.
Acre’s goal is to fundamentally reconsider the procedure. The company uses technology to make buying real estate faster, simpler, more transparent, and more affordable. The UK-based FinTech startup has now received €7.3M in additional funding. In this round, repeat investors Aviva and Founders Factory are joined by The McPike Global Family Office (MGFO).
“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 meets the needs of clients,” said Justus Brown, CEO and founder of Acre. This most recent round of fundraising highlights our resilience and dedication to the industry and fuels our aspirations to become the preferred tech platform for brokers.
Acre’s broker platform, which was developed in partnership with Aviva and emerged from the Founders Factory incubator, uses blockchain technology to place data at the center of the mortgage application process. The method becomes more informed, precise, and efficient as a result.
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Justus Brown: “The financial turmoil of last year caused many homebuyers to value mortgage brokers more, and this pattern is expected to continue into 2023. For brokers to excel at providing quick, effective guidance that satisfies the particular needs of each case in a dynamic market, we provide them with the appropriate tools, data, and insight at the click of a button.
Since its most recent fundraising in 2019, the company has rapidly expanded. According to the report, the platform saw a 10x increase in users in 2022, reaching over 1300 users and over £10 billion in yearly mortgage volume. In addition, the network inked Intrinsic House as its first protection-only company in 2022. Additionally, a few quickly expanding networks, such as Cornerstone Finance Group and Beneficial Network, have integrated with the Acre ecosystem and various lenders, like Santander and TSB.
The future of a tech-driven mortgage market, according to Ant Barker, Head of Venture Investments & Partnerships at Aviva, is represented by Acre. We at Aviva Ventures are excited to keep partnering with Justus and his team at Acre as they work to bring much-needed technological innovation to the industry’s homebuyers, brokers, and financiers.
The UK-based FinTech company hopes to continue its development and move closer to realizing its goal of fundamentally altering the home-buying process with this new investment. To help its brokers suggest and apply for the appropriate financial products and services as quickly as possible, it will launch new partnerships with lenders and insurers.
“We are thrilled to expand our partnerships with Founders Factory and Aviva, and believe Acre is truly an all-encompassing innovative platform that is ripe to capitalize on the rapidly changing UK mortgage market,” added Drew Colaiezzi, private investments manager with MGFO. Acre is now in a position to grow quickly while showcasing its significant market disruption capabilities thanks to Justus, a fantastic operator. I’m thankful for the chance to help the UK mortgage market set the pace for the coming technological transformation.
