UK-based MortgageGym secures £500,000 of additional seed funding from a former COO of Deutsche Bank

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MortgageGym, the world’s first regulated mortgage robo-adviser, today announced that Henry Ritchotte, former COO and member of the management board of Deutsche Bank AG, has joined with immediate effect as investor and adviser to the Surrey-based fintech startup.

Henry Ritchotte has made a personal investment of £500,000 in MortgageGym. He has over 24 years’ experience in the investment banking and financial services industries. Since leaving Deutsche Bank earlier this year, Henry has been making early stage investments in financial services firms with a focus on disruptive regulatory- and technology-driven business models. Henry previously held the role of ‘Head of Digital Bank’ at Deutsche Bank, which aims to deliver extraordinary customer experiences through the intelligent use of technology, data and mobile devices.

This additional seed investment follows a seed round of £2 million which was closed in May of this year. The startup is based near London, was founded in 2016, and got authorised by the FCA in February 2017. MortgageGym’s official launch is now just around the corner.

John Ingram, Founder and CEO of MortgageGym, stated: “We are delighted to have someone of Henry’s experience on board in an advisory capacity. He brings a wealth of digital expertise and experience from his work at Deutsche Bank. He is hugely respected and will be a valuable addition to the company. MortgageGym is intent on revolutionising the mortgage market through a completely digital, whole-of-market, free and accurate application process, which is a first of its kind.”

Henry Ritchotte added: “I am very excited to be joining MortgageGym ahead of its official launch this summer when it will, no doubt, revolutionise the mortgage market with the introduction of the first, digital mortgage marketplace for UK consumers. MortgageGym has been carefully designed in consultation with regulators, consumers, lenders and intermediaries to ensure that it provides mortgage applicants with peace of mind by advising them on mortgages that they can realistically afford. Not only will it make the application process easier for users, but it will also help those who couldn’t get a deal previously to secure a mortgage perfectly suited to their income level.”

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