Mortgage Master secures SG$928,000 in Pre-Series A Funding

By Leandra Monteiro

Mortgage Master, an Asian mortgage brokering platform, recently announced that it has raised SG$928,000 in a Pre-Series A funding round. The raised funds will be used to accelerate overseas expansion and strengthen customer relations. This round of investment was led by private angel investor Woon Young Jeong, and existing investors, including Bala Swaminathan, former President of Westpac International and Founder of S Cube Capital, and Andy Lim from Tembusu Partners.

The successful fundraising follows 12 months of consistent growth, which saw Mortgage Master triple its customer base in Singapore and enable homeowners to collectively reduce their monthly home loan repayments by more than SG$100 million. Since its launch, Mortgage Master has delivered unbiased advice for SG$4 billion worth of home loans and directly facilitated SG$800 million in home loan transactions on behalf of partner banks.

“Renewed funding from our investors reflects their confidence in our business model, growth trajectory, and our ability to meet a genuine need that has become more pronounced in recent months,” said David Baey, Co-Founder and Chief Executive Officer, Mortgage Master.

“With Singaporeans seeking a greater financial cushion amidst pandemic-induced uncertainty, those who own homes have benefitted from having Mortgage Master identify and secure the most favourable mortgage refinancing rates across the market and ‘return’ them a significant amount of cash that would have otherwise gone to waste. We are humbled by the trust that has been placed in Mortgage Master all around and will use the investment wisely to double down on our commitment toward doing right by every homeowner,” added Baey.

The capital will be used to strengthen customer acquisition through customer education, forge strategic partnerships, and enter new markets. With the funding, Mortgage Master can continue transforming the mortgage landscape and create a home loan market that is beneficial to both homeowners and banks.