Fintel acquires a 5.8% stake in Mortgage Brain

Fintel has invested £1.5m for a 5.8% stake in Mortgage Brain Holdings Limited and agreed on a new distribution deal.

This partnership will provide Fintel’s SimplyBiz Mortgages advisers access to Mortgage Brain’s mortgage sourcing and submission software.

SimplyBiz Mortgages will offer Mortgage Brain’s full suite of products including its three sourcing engines, plus its soon to be launched CRM Brain and Submissions Brain via Mortgage Brain Hub.

Neil Stevens, joint CEO of Fintel plc, said: “Our new distribution agreement with Mortgage Brain will enable our members to access Mortgage Brain’s leading mortgage sourcing and submission software as part of our integrated platform.

“Our investment in Mortgage Brain will provide a significant cash injection to continue Mortgage Brain’s product transformation, bringing its solutions to the cutting edge of the industry and providing even greater efficiency to its customers, including Fintel’s members.”

Zahid Bilgrami, CEO of Mortgage Brain, said: “We’re delighted to partner with Fintel and bring our services to an even wider audience driving better outcomes for advisers’ clients.

“Fintel’s investment will support us to achieve our ambitious transformation plans for the business and our products.”