Smartr365’s technology, used by key mortgage distributors and lenders, is redefining how mortgages are originated, processed and closed.
Calculus has invested in sector-leading mortgage industry disruptor Smartr365, alongside Pembroke VCT and Smart Currency. The £5m funds raised will be used to grow the team and enhance the technology platform. With mortgage intermediaries representing 90% of the UK mortgage sector and 25% of these intermediaries using Smartr365, the platform is recognised as a leader in the space.
Smartr365 was founded by Conor Murphy to address the inefficiencies and frustrations he identified within the antiquated mortgage industry. The platform automates the entire mortgage process and integrates all key stakeholders, including brokers, estate agents, homebuyers, and lenders. Key service providers such as Experian, Uinsure, and Smoove are also integrated within the Smartr365 marketplace, enhancing the platform’s ability to streamline and simplify the mortgage journey for both brokers and clients.
This latest investment will be used to further develop the platform, complete client and third-party integrations, and expand the sales and customer success teams. It will also help increase the usage of Smartr365’s marketplace, including the growing volume of automated direct-to-lender applications – a technology that Smartr365 pioneered for the sector.
The scale and ambition of Smartr365’s vision was recognised in August 2018 when Legal & General (L&G) became the largest external investor in the company.
Conor Murphy, CEO and Founder of Smartr365, has extensive experience in the UK mortgage sector, having previously founded Capricorn Financial, London’s largest independently owned mortgage broker. Frustrated by the industry’s outdated processes, Conor was driven to modernise the lending process and create a ‘one-stop-shop’ for mortgage brokers. Smartr365’s platform significantly reduces onboarding times for new brokers, minimises errors in the application process, and enhances client satisfaction with live updates.
The company’s client base includes major industry players such as Legal & General, Sesame, Openwork, and Just Mortgages. By connecting these distributors to large-scale lenders like Halifax, Nationwide, NatWest, and Barclays, Smartr365 simplifies complex and time-consuming tasks, such as compliance checks, mortgage tracking, and document management.
Conor Murphy, CEO & Founder of Smartr365, said: “We are incredibly excited about the next phase of growth for Smartr365. This investment will allow us to further enhance our platform and ensure that we continue to meet the evolving needs of our clients in the mortgage and protection sector. We are on a mission to transform an industry that has long been bogged down by inefficiencies, and this funding will enable us to expand our reach, increase adoption, and continue innovating. The support from Pembroke VCT, Calculus VCT and our other investors is a testament to the strength of our technology, our vision, and our team. We’re also delighted to continue to build on our marketplace, which includes trusted service providers like Experian, Uinsure, and Smoove, helping to offer an even more seamless experience for brokers and customers alike.”
Richard Moore, Co-Head of Investments at Calculus, said: “We are delighted to back Smartr365 as it continues to set the standard in the ever evolving and often complex mortgage tech sector. We were attracted to the combination of CEO Conor’s exceptional industry expertise, together with Smartr365’s impressive network of strategic partnerships with global industry leaders. Smartr365 is well positioned to drive innovation in the industry and deliver excellent growth for investors. We look forward to working with Conor and the team on their ambitious growth plans.”