Acre Software, a London, UK-based next-generation mortgage, protection and general insurance platform, received a £5m in funding.
Backers included Aviva and Sesame Bankhall Group.
The company intends to use the funds to build the team further and realize their full potential.
Founded by Justus Brown, CEO, Acre is leveraging blockchain technology to put detailed consumer and property data at the core of getting a mortgage and bring together all the components of the mortgage application process into one unchangeable ‘record of the transaction’.
Following the deal, Acre will become one of the UK’s biggest users of blockchain as the platform will be used by SBG brokers, who is one of the UK’s biggest group of mortgage brokers – who handled £41 billion worth of mortgages in 2018.