Seed15 June 2022

Mast Technologies secures £1.2m seed funding led by Antler to advance mortgage platform

Antler led the seed round with participation from notable angel investors to support platform development.

£1.2MSeed

Mast Technologies builds cloud-native mortgage origination infrastructure designed to help lenders operate more efficiently and improve the borrowing process.

Mast Technologies has raised £1.2m in a seed financing round led by Antler to develop its cloud-native mortgage origination platform further. The company, which launched its product in late 2021, aims to streamline the historically slow mortgage application process for borrowers and lenders alike. Additional participants in the round include prominent angel investors and industry executives from firms such as Monzo and Booking.com.

The fresh capital will be directed towards accelerating product development, specifically enhancing underwriting workflow tools and the platform policy engine. Mast has processed over £50m in mortgage applications since its inception, offering real-time feedback and open infrastructure to facilitate faster reviews. The investment underscores growing confidence in modernising legacy lending technology.

From the founder

"We’re very excited to announce this milestone and are very grateful to those joining us on our journey who trust our ambitions. Since launching with our first client, we have significantly helped improve conversion rates and time to offer timelines. We are building the platform with direct and close feedback from lenders and brokers. This funding will enable us to accelerate the product roadmap and engineering velocity considerably. Over the last 15 years we’ve seen dramatic innovation across the financial landscape, but mortgage lending technology has lagged behind the improvements made to consumer services. Now is the time to bring lending technology up to speed"

Joy Abisaab

Co-founder and CEO at Mast Technologies

Investor perspective

"As one of the world’s most active early-stage investors, we are typically the first money in and continue our support with investments up to Series C. We invest in only 1% of more than 50,000 founders we meet annually and currently have 40+ companies in our UK portfolio. We were impressed early on by the drive of Mast’s co-founders, who instantly stood out. After backing the team with their first investment, we are thrilled to lead this next round as well. The broader participation of other great investors is further validation that there is significant support around applying deep industry experience and new technologies to solve this decades-old problem in lending."

Jed Rose

General Partner, Antler