Doddle.ie to invest in enhancing the digital mortgage experience.
Digital mortgage broker Doddle.ie has secured a seven-figure investment to accelerate the growth of the three-year-old brand.
The company now aims to expand its innovative digital mortgage experience by including a range of related financial products, while adding seasoned investors to its board.
“It will allow us to further develop our mortgage offering and to deliver a world-class digital experience to our customers by implementing the latest technologies, from Open Banking to Artificial Intelligence”
Since its launch in July 2019, Doddl.ie has assisted customers with over €1bn in residential mortgage applications, rapidly becoming a leader in the Irish mortgage market with over 40 staff.
Doddl.ie is led by mortgage expert Martina Hennessy, Gráinne Forbes and a senior management team of experienced banking, property and technology professionals.
The funding round includes investment from NSN Investments, controlled by Michael Nolan and Steven Scott, and Andrew Murphy’s Merleview Limited.
Both NSN and Merleview will appoint directors to the Board at Mortgage Horizons Limited, the regulated entity of Doddl.ie.
Michael Nolan’s core interests are in the energy and mining sectors. Notably, he helped to guide the sale of Cove Energy plc to Thailand’s PTTEP for $1.9 billion in 2012.
In addition to his core interests, he maintains an involvement as an investor in other sectors, including financial services.
Steven Scott, is a founding partner at UK private equity investment group Penta Capital, which has a long record of successfully investing across the UK financial services industry.
Andrew Murphy has supported a number of start-ups and scale-ups in recent years, including Robotify Labs as co-founder which was acquired in late 2021.
He previously founded Slainte Healthcare, which incorporated Claimsure Ireland, an Insuretech solution for healthcare, and Vitro Software, a medical records application.
“This funding is a great endorsement of the Doddl business and of the team behind its growth in recent years,” said Martina Hennessy, Doddl.ie founder and CEO.
“It will allow us to further develop our mortgage offering and to deliver a world-class digital experience to our customers by implementing the latest technologies, from Open Banking to Artificial Intelligence.
“Doddl.ie has achieved a high level of success by anticipating a shift in how consumers prefer to engage with financial services providers, providing an industry-leading digital application process supported by a team of top mortgage experts and access to all major mortgage lenders in Ireland.
“Financial products can be intimidating, and we see a huge opportunity to support Irish consumers through the challenging home buying process by making the mortgage application experience simpler, less stressful and more transparent,” Hennessy said.
Main image: Martina Hennessy, Doddl.ie founder and CEO