Markets

Goldman Sachs throws weight behind digital mortgage broker Trussle

WALL STREET behemoth Goldman Sachs will buy a stake in UK online mortgage broker Trussle, reports yesterday confirmed.

Goldman's Principal Strategic Investments (PSI) division is taking part in a £14m fundraising by Trussle – a company which was only founded three years ago.

A spokesperson for Goldman Sachs confirmed the news to City A.M yesterday evening.

Trussle are expected to make an announcement providing more detail on the proposed deal today.

Read more: Millennial mortgages are here: Automatic switching is go at startup Trussle

Sky News first reported the news on Tuesday evening, as the outlet also reported that Trussle will also receive backing from Propel.

Trussle was founded by Ishaan Malhi, a City analyst who made his own company after he grew sick of how tedious his own mortgage application was.

Speaking to Sky News, Malhi said: Every year, millions of current and aspiring home owners are subject to the same unnecessary costs, delays, and frustration that I experienced first-hand when trying to get a mortgage.”

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