Monzo founder backs Mast in £1.2m funding round

Mast, a cloud-native mortgage origination platform, has raised £1.2m in a funding round headed by Antler VC.

Backers in the round included founders of Monzo, ThirdFort and Booking.com. Senior executives from Pivotal, VMWare, Airwallex, Jones Lang Lasalle and Thought Machine also took part.

Mast is building cloud-native mortgage technology infrastructure to help lenders increase capacity, reduce costs and strengthen operational controls.

The new funding will be used to enable Mast to continue the development of its customisable underwriting workflows tools and policy engine to help automate more of the origination journey.

Mast CEO Joy Abisaab said, “Over the last 15 years we’ve seen dramatic innovation across the financial landscape, but mortgage lending technology has lagged behind the improvements made to consumer services. Now is the time to bring lending technology up to speed.”

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