Blockchain mortgage platform Acre has recently secured £6.5 million approximately $7.9 million alongside a four-year-long £5 million fundraiser led by British multinational insurance company Aviva and Sesame Bankhall Group.
This comes following Acre’s exit from Founders Factory’s venture studio where Justus Brown, the present Chief Executive Officer (CEO) was formerly the chief product officer.
Starling backer McPike Global Family Office also joined the other investors in this investment round. Acre is focused on turning the entire process of buying a home or property into a digital roadmap and aims to achieve this with the help of the loan. Already, the mortgage platform is blockchain-based, giving it leverage over its other rival companies.
Acre Expanded Amidst Bear Market
In the face of a complex and sophisticated lending process, Acre equips traditional brokers to compete effectively with their digital counterparts.
More so, the company flatters itself as one which has a high commitment and responsibility to its customers. This has become evident in the company’s growth over the years. Last year, Acre’s user base jumped by almost four times its previous size, and presently, the platform has over 1300 active users.
The company’s CEO Brown said “We pride ourselves on being at the forefront of innovation in financial advice, delivering a new, modern approach that simplifies the advice journey for brokers and delivers on the needs of clients,” and “This latest fundraise demonstrates our strength and commitment to the market and supercharges our ambitions as the tech platform of choice for brokers.”
Amidst the bear market of 2022, Acre increased its workforce by 50% in addition to integrating five more lenders like Santander Bank and TSB, a United Kingdom retail and commercial bank. Also, Acre experienced 10 times growth year-over-year reaching up to £10 billion in annual mortgage volume. This year, Acre is positioned to ink more partnerships as part of its growth strategy.
In other news, Spain topped the list of countries with real estate properties available for crypto purchases according to a survey published by Forex. Over 289 properties were discovered to be available for purchase with cryptocurrency in Spain alone. Thailand and Portugal came next on the list.
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