Acre has secured £6.5 million in investment to grow its technology platform and to progress its aim to revolutionise the process of buying a home.
The McPike Global Family Office (MGFO) joins returning investors Aviva and Founders Factory, to provide new funds to further Acre’s ambition to digitise the homebuying journey to buying and deliver new, innovative ways to support brokers’ businesses.
In 2022 Acre’s intermediaries platform grew to over 1300 users, representing over £10bn in annual mortgage volume, a 10x growth over the year. The platform signed its first protection-only firm, Intrinsic House, and saw a number of networks, including Cornerstone Finance Group and Beneficial Network, join the Acre ecosystem. Integrations with five lenders also went live, including Santander and TSB.
Following this investment, Acre will aim to continue its customer growth and pursue its vision of changing the way people buy homes. Acre plans to roll out new partnerships with lenders and insurers that help its brokers recommend and apply for the right financial products and services as efficiently as possible. Acre believes that in order to deliver on this vision, client data and identity needs to be entered and verified once, and shared across the whole homebuying process.
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.
“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.”
