Mortgage advice fintech lands £11m funding

Digital estate agent Strike has received £11m in funding led by Direct Line founder Sir Peter Wood and his new investment vehicle SPWOne.

Rather than charging commission or fees for selling homes Strike earns referral fees from mortgage lenders, insurance providers and conveyancing solicitors for the advice it provides sellers.

New backer Channel 4 Ventures also invested in the round as part of a media-for-equity deal, alongside existing investors Freston Ventures and Toscafund.

“The ability to sell a home for free, without paying any estate agency fees, was always going to be well received,” Sam Mitchell, Strike’s chief executive, told FTAdviser. “[We’re] committed to turning the industry on its head.”

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Source: Mortgage advice fintech lands £11m funding – FTAdviser.com