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OneDome snaps up former Goldman-backed mortgage broker Trussle
A British property and fintech business which aims to improve the homebuying process has swooped to buy Trussle, a digital mortgage broker once backed by Goldman Sachs, the Wall Street giant.
Sky News understands that OneDome, which integrates mortgage, legal, and insurance services into a single online process, has agreed a deal to buy Trussle from US-listed Better Home & Finance Trading Company. The terms of the deal were unclear on Thursday, with the transaction subject to approval from the City regulator.
Money blog: Millions of Nationwide customers to receive £100 Trussle, which trades as Better.co.uk, was founded in 2015 and raised close to £30m in a series of funding rounds. Its sale in 2021 reportedly valued the business at a significant discount to that sum.
In a statement issued to Sky News, Babek Ismayil, founder and chief executive of OneDome, said: "Trussle has built an excellent team and a reputation for innovation and customer focus. "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award-winning HomeBuyer Service, and combining our strengths is a natural next step to transforming this historically outdated sector." Sources said the transaction would edge OneDome - chaired by the veteran former City lawyer Sir Nigel Knowles - closer to a five-year goal of being involved in 10% of all UK homebuying transactions. The combined group, they added, would facilitate over £3.5bn in annual mortgage lending and process roughly 1,100 property transactions each month.
It will have a workforce of about 230 people..
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