In return for the investment Fintel will now take hold of 5.8% of the current issued share capital of Mortgage Brain at the time of investment.
Fintel’s investment aims to allow the Mortgage Brain to continue to invest in its technology platform and enhance its service to lenders and intermediaries.
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Neil Stevens, joint CEO at Fintel, said: "Our new distribution agreement with Mortgage Brain will enable our members to access their leading mortgage sourcing and submission software as part of our integrated platform.
"Our investment provides a significant cash injection to accelerate Mortgage Brain's product transformation, enhancing its solutions and providing even greater efficiency to its customers, including Fintel's extensive membership base.
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