Online specialist mortgage broker Haysto has received investment from industry leaders Rishi Khosla OBE and Dr. Steve Garnett.
The investment will help the digital-first brokerage – whose platform is the only end-to-end solution for the specialist mortgage market – to reach more customers who need them.
Haysto is building a faster, more certain and transparent process for customers who don’t fit the mainstream idea of the ‘ideal mortgage applicant’.
Aimed at those left behind by the high-street banks and mainstream mortgage brokers due to their credit profile or self-employed status, Haysto’s platform enables customers to manage their mortgage, conveyancing and insurance all in one place while driving automated workflows between different customer teams.
Rishi Khosla
Rishi Khosla OBE is a serial start-up entrepreneur and the CEO and Co-founder of OakNorth – a financial technology company valued at $5bn with a mission to empower mid-size businesses that struggle to access fast, flexible debt finance yet are large contributors of economic and employment growth.
He started his first business, Copal Partners in 2002 with just $60k. Within 12 years, he and his co-founder Joel Perlman had scaled to 3,000-employees across 13 markets before selling to Moody’s Corporation in 2014.
OakNorth’s purpose to “empower the Missing Middle” has many parallels to Haysto’s mission to support those left behind by the high-street lenders and mainstream mortgage brokers.
Khosla said: “This is an exciting time. There’s a growing customer need for an innovative brand and platform to unlock the specialist mortgage market and Haysto is perfectly positioned to do that. I look forward to supporting the company’s mission to empower those who’ve been left behind.”
Steve Garnett
Dr. Steve Garnett was named one of the most influential Britons in technology by the Daily Telegraph. He’s been a member of the executive management team of three startups that have each turned into some of the most successful software companies in history.
He was at Oracle Corporation for 12 years as it grew to become the world’s 2nd largest software company. He helped grow Siebel Systems over eight years, going from 100 employees to the world’s fifth largest software company with 8,000 employees and a $60bn market capitalisation at its peak.
Garnett went on to be part of the executive team at salesforce.com, helping to take it public. Salesforce.com has been recognised as the world’s most innovative company by Forbes three years in a row.
Garnett said: “Haysto has done a fantastic job in bringing the specialist mortgage market to the forefront. I look forward to helping the company accelerate its growth and reach more people who need them’’
Jonny Moulton, co-founder and CEO of Haysto, said: “Since launching Haysto we’ve helped thousands of customers realise their dream of homeownership after being needlessly rejected by mainstream banks and brokers. As we move into the next phase of growth, we’re focussed on bringing in value-add investors; Rishi and Steve’s alignment from a market, technology and company-growth standpoint is a perfect fit for Haysto.”
“We’re also thankful to our network partner HLP – in particular CEO Chris Tanner who has provided strong strategic support through our growth.”.
“Unlike other online mortgage brokers, we have a profitable business model. This funding will be used to increase our market reach as we continue to address the myths and stigmas associated with specialist lending. We’re also expanding our engineering team as we accelerate the development of our platform ready for a major new release later this year.”
“We’re thrilled to have Rishi and Steve on our journey to making homeownership possible for more people.”
