Fintel reports £1.5mn investment into Mortgage Brain

Fintel and Mortgage Brain, leaders in the fintech and mortgage technology sectors, have today announced their new distribution agreement.

Related topics:  Fintel,  Technology
Tabitha Lambie | Editor, Protection Reporter
26th March 2024
"Fintel’s investment will support us to achieve our ambitious transformation plans for the business and our products."
- Zahid Bilgrami, CEO of Mortgage Brain

Under this new agreement, Mortgage Brain’s sourcing, customer relationship management (CRM), and submission software will be readily available to Fintel’s advisers via its SimplyBiz Mortgages subsidiary. This will help advisers efficiently source and place mortgage products for their clients.

SimplyBiz Mortgages will now offer Mortgage Brain’s full suite of products, including its sourcing engines, and soon-to-be launched CRM Brain and Submissions Brian via Mortgage Brain Hub.

Fintel has paid £1.5mn in return for newly issued shares in Mortgage Brain to enable the mortgage technology provider to better serve lenders and intermediaries. Both parties will be announcing their joint initiatives in the next few months.

“Our new distribution agreement with Mortgage Brain will enable our members to access Mortgage Brain’s leading mortgage sourcing and submission software as part of our integrated platform,” explained Neil Stevens, joint CEO of Fintel. He believes this investment will provide a “significant cash injection to continue Mortgage Brain’s product transformation, bringing its solutions to the cutting edge of the industry and providing even greater efficiency to its customers, including Fintel’s members.”​

Zahid Bilgrami, CEO of Mortgage Brain, added that he’s “delighted to partner with Fintel and bring our services to an even wider audience driving better outcomes for advisers’ clients.”

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