Blockchain Mortgage Tech Startup Acre Software Raises $6.5 Mln From UK Financial

[Joankii]

United Kingdom startup Acre Software raised about $6.5 million to apply blockchain technology to the mortgage and insurance application process for advisers, a press release published on April 4 states.

Per the release, nearly three-quarters of UK mortgages are facilitated by advisers, and the company aims to help them retain their position by matching the speed of an end-user service. Acre reportedly uses blockchain to store all the data about mortgage advice immutably.

The investment reportedly comes from UK financial adviser Sesame Bankhall Group (SBG), which, according to the release, has more than 11,000 advisers in the country. Owler estimates the annual revenue of the advisory firm to be around $4.5 million. Moreover, the release also claims that SBG closed an exclusive deal with the startup, the details of which were not disclosed.

As Cointelegraph reported in October last year, mortgages are seemingly a target for modernization and decentralization through the application of blockchain technology. Big Four auditing firm PWC claimed in a report that blockchain “technology could remove cost and friction from the process, create transaction records that are infallible and incorruptible, and facilitate near-instantaneous settlement.”

More recently, in March, Swiss mortgage bank Hypothekarbank (“Hypi”) Lenzburg partnered with Swiss crypto asset manager TokenSuisse to expand the bank’s service offerings for crypto and blockchain firms


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[Alexagan]

I've heard of this. I think it is a good idea and profitable for those who have put it into practice. Blockchain technology can benefit the mortgage industry in several ways. It can help speed up the transaction time, making settlements happen more quickly. It can also create more accurate records and make the process more affordable for all involved. Although until no lenders are likely to offer a mortgage in bitcoins. Currently, there aren't bitcoin payment processors that automatically process mortgage payments . Like any investment, you can sell bitcoins and pay your mortgage. However, I believe that such an option will appear in the future.

[chloehug]

This raise is great for mortgages, especially! It is indeed profitable and smart for those who want to put it into practice. Since I  heard this news, I wanted to make my mortgage journey simplified, so I started using this platform http://smartr365.com. It simplifies the process for everyone with the market’s most powerful digital tools. If you are a broker, fully integrated tools allow you to submit business in minutes, not hours. I strongly recommend using this platform if you want to understand this process better, especially for beginners!

[juradvan]

My friends have recently moved to London, and they have been searching for a flat for about a week, after staying in a hotel.
They moved there for a month because they had some projects for their job as architects. After two weeks, they searched for a flat because they got a contract with two companies. They discovered that London gave them so many possibilities. Hence, they told me they asked for help from Mortgage Advice London and found the best option for them in about three days. I’m glad for them and for their success and career growth.

[Doegg]

Quite recently, I heard about this news. And first of all, I would like to say that new technologies are increasingly affecting different industries. An example is blockchain technology in commerce, which is looking to implement modern and sustainable solutions. From my point of view, these technologies fit perfectly into the system as they have the advantage of transparency, elimination of counterfeiting, reduction of costs, and speeding up the securitization of mortgages to a matter of weeks. The industry I am studying is focused on the latter option, in other words, blockchain mortgages, which are a driver of consumer demand. After understanding the theory, I needed practical skills, and Mortgage Broker Hull, who has many years of experience in the mortgage market, helped me with this.

[rubeelam]

"Blockchain technology can revolutionize the home buying and mortgage lending processes of financial institutions. Blockchain can significantly reduce costs and eliminate many problems from this process.
A friend works at Mortgage Broker Colchester, a company that deals with loans and mortgages. They are constantly learning, and he told me that blockchain technology could eliminate the possibility of data tampering, create traceable mortgage pools for all parties, reduce costs, and speed up mortgage financing to a few days through an expedited process of issuing and registering securities with the regulator. For banks and deal originators, the introduction of blockchain will potentially create a single trusted environment for registering and signing borrower mortgage applications with brokers and deal originators."