The investment will fund rapid growth in the UK mortgage market and further development of proprietary technology.
"Molo has reimagined the whole mortgage experience from scratch; we are applying the convenience and speed of today’s technology for today’s customers. Leveraging instant decisioning and real time data validation, customers can get certainty about their mortgage directly on their mobile, in minutes rather than weeks. This additional backing is a sign of trust in Molo, and we are proud to have reputable players like Macquarie, Patron and Yabeo on our team as we seek to revolutionize the mortgage market."
The funding round was led by nChain and Cambridge Innovation Capital.
"Businesses have realised that advanced analytics and rapid innovation is the key to building competitive advantage in a data-driven world, so where billion row queries that took hours were once acceptable, the market now demands trillions of rows and speed-of-thought results. Aside from performance and scale, database technology needs to be built with the future of the connected world in mind – providing flexibility and cost predictability, even as the demands for big data continues to grow."
