Deal strengthens fintech platform’s position in homebuying market
UK-based property and fintech firm OneDome has agreed to acquire the online mortgage broker formerly known as Trussle, which now operates under the Better.co.uk brand.
The transaction remains subject to final approval from the Financial Conduct Authority (FCA).
Founded in 2015, Trussle became the UK’s first fully digital mortgage broker. It received more than $35 million in venture capital before being acquired by U.S.-based Better Home and Finance Holding Company in 2021. Trussle, which has rebranded to Better.co.uk in 2023, is known for its technology-focused approach and strong customer service, boasting more than 9,000 reviews on Trustpilot with an average rating of 4.8 stars.
“Trussle has built an excellent team and a reputation for innovation and customer focus,” said Babek Ismayil (pictured), founder and chief executive of OneDome. “We share a clear vision: that buying a home should be simpler, faster, and less stressful. Trussle’s Smartbuyer proposition closely mirrors our own award-winning HomeBuyer Service, and combining our strengths is a natural next step to transforming this historically outdated sector.”
“We’ve thoroughly enjoyed working with OneDome throughout this process and are excited about their vision for the future,” added Kevin Ryan, president and chief financial officer of Better. “We wish the Trussle team every success as they enter this new chapter under OneDome’s leadership.”
The acquisition is set to bolster OneDome’s role in the UK’s digital homebuying sector. Once the deal is finalised, the combined company is expected to facilitate more than £3.5 billion in mortgage lending each year, process around 1,100 property transactions per month, operate with a team of 105 advisers across mortgage, protection and financial services, and employ more than 230 staff members.
“This deal gives us greater firepower to serve homebuyers and deliver a best-in-class digital journey,” Ismayil said. “We’re thrilled to welcome the Trussle team into the OneDome Group and look forward to building something even more impactful together.”
OneDome said the acquisition supports its long-term ambition to be involved in 10% of all housing transactions in the UK within five years.
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