Mortgage Master raises $980k for Indonesia expansion

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The morgage brokering platform also plans to help Singapore save more than $100m in home loan repayments.

Mortgage Master, a Singapore-based mortgage brokering platform, has raised $928,000 in pre-series A funding.

This investment would allow the company to better serve Singaporeans and expand to Indonesia.

The investment round was led by private angel investor Woon Young Jeong, and existing investors, including Bala Swaminathan, former President of Westpac International and Founder of S Cube Capital, and Andy Lim from Tembusu Partners.

It followed a full-year of consistent growth, when Mortgage Master tripled its Singapore customer base and helped homeowners collectively reduce their monthly home loan repayments by more than SG$100 million.

“With Singaporeans seeking a greater financial cushion amidst pandemic-induced uncertainty, those who own homes have benefitted from having Mortgage Master identify and secure the most favourable mortgage refinancing rates across the market and ‘return’ them a significant amount of cash that would have otherwise gone to waste. We are humbled by the trust that has been placed in Mortgage Master all around and will use the investment wisely to double down on our commitment toward doing right by every homeowner,” said Mortgage Master Co-Founder and CEO David Baey.

Since its launch, Mortgage Master has delivered unbiased advice for SG$4 billion worth of home loans and directly facilitated SG$800 million in home loan transactions on behalf of partner banks.