OneDome, a UK-based real estate and fintech company, has agreed to acquire digital mortgage platform Trussle, which was previously backed by investment bank Goldman Sachs.
Sky News has learned that OneDome, a platform that combines mortgage, legal and insurance services into a single online process, is acquiring Trussle from US-based Better Home & Finance Trading Company. The deal is subject to approval by the UK’s financial regulator.
Trussle (which operates as Better.co.uk) was founded in 2015 and has raised around £30m in funding. The company is expected to be sold in 2021 for a much lower price.
OneDome founder and CEO Babek Ismail said in a statement:
“Trussle has built a great team and is known for its innovation and customer-centric approach. We share the same vision – to make the home buying process simpler, faster and less stressful. Trussle’s Smartbuyer offering is very similar to our award-winning HomeBuyer service and joining forces is a natural step to transform this outdated sector.”
The acquisition will see OneDome move closer to its five-year plan to account for 10% of all home sales in the UK, sources said.
The combined company will handle more than £3.5 billion in mortgages annually and complete around 1,100 property transactions per month. The group will employ around 230 people.
