Mortgage multi-entrepreneur, Ying Tan, will take the position of CEO (subject to FCA approval) and become a significant shareholder in the business.
The news comes as Habito, the award-winning digital mortgage broker and innovative home-buying service, closes its latest round of funding, led by Ying Tan and supported by Habito’s existing investors, Augmentum Fintech, SBI Investment, Volution and Bootstrap Europe.
In the first quarter of the year 2023, Habito experienced strong volumes despite challenging market conditions and continues to harbour bold ambitions for the rest of the year and beyond. To finance the growth, this new investment will power the next phase of Habito’s 5* customer offering and will enable the company to continue fusing its proprietary technology platform with its highly-acclaimed advice team.
Daniel Hegarty, who is stepping down as Habito’s founder and CEO after seven years at the helm, continues to be supportive of the company and its strategy.
Hegarty commented: “Over the past seven years, we’ve been on a mission to make the process of owning and financing a home easier. Habito has helped more than half a million people with their mortgage needs and has doubled down on customer service during a period of great change and uncertainty in the UK housing market. Leading such a passionate, skilled and dedicated team during this time has been an honour. I’m tremendously proud of all that we’ve achieved together and I’m excited for all that the future holds for Habito. Ying is a mortgage industry titan and a phenomenal operator and I can’t think of a leader better suited to the role.”
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Ying Tan said, “I’ve admired Habito from afar since its launch in 2016 and I’m beyond thrilled to have the opportunity to take the company to the next level. With the cost of living biting, energy prices sky-rocketing and interest rates at historic highs, it’s more important than ever for UK mortgage-holders and first time homeowners to have access to the very best mortgage and home-buying advice. I’ve spent nearly 20 years in the industry and am passionate about delivering stellar customer outcomes and driving positive change within the mortgage market. 2023 is going to be another milestone year for Habito’s brokerage and I’m excited for all that’s to come.”
Since 2016, Habito has led the £1.6 trillion mortgage industry’s much-needed digital transformation with its pioneering brokerage technology, home-buying innovations and award-winning team. Over the past seven years, Habito has submitted more than £10 billion worth of mortgages and has achieved consistently high customer service scores from its 500,000 customers who’ve enjoyed its refreshingly independent, whole-of-market and jargon-free approach. In 2020, Habito introduced the UK’s first-ever fully-integrated home-buying service – Habito Plus – bringing together home-financing, surveys and conveyancing under one roof.
Daniel Hegarty has spent the last decade in senior leadership roles in the UK fintech sector. Going forward, he will be focusing on his advisory roles, investment portfolio and a new fintech start-up.
Tan continues: “Dan has led Habito with creativity and vision. I share his enormous passion for innovation, technology and commitment to solving real-world problems for customers. I am super proud to take the baton and turbocharge Habito’s growth for the next stage of its journey.”
Ying Tan founded mortgage brokerage, Dynamo, in 2006 and grew it to 200 staff before exiting to Connells, the UK’s largest property services businesses in 2021. Tan has since invested in a number of fintech businesses including Propflo and Knowledge Bank, where he is currently non-executive chair. A qualified accountant and former investment banker at Goldman Sachs, Tan has won in excess of 50 industry awards, both personally and for his businesses. Seasoned operator Penny Desborough, will also join Habito’s senior leadership team as VP of Operations.