Eight companies announced as winners of the ‘Mortgage Innovation Challenge’

Delta Partners, in conjunction with the RDI Hub, have announced the winners of the Mortgage Innovation Challenge, which is providing €1 million in grants to companies who are introducing innovation around the provision of mortgages in Ireland.

The Mortgage Innovation Challenge initiative was launched in the RDI Hub in Killorglin on May 4th, seeking applications that addressed the needs of homebuyers, lenders and all stakeholders in the mortgage value chain.

Following significant numbers of quality applications, Delta Partners and RDI Hub shortlisted applicants to attend a pitch competition in the RDI Hub in Killorglin in early September. The attending companies demonstrated their innovative approaches and described how the funding would progress their projects to achieve market validation, prove technical feasibility, and/or demonstrate customer demand and business scalability.

The two-day pitch competition resulted in the following companies being announced as winners of the initiative:

• Artificial Intelligence Finance, trading as ‘Online Application’– developing a ‘one touch’ mortgage where a single pass at a digital process will create a loan
• Credit Logic – a mortgage lending-as-a-service platform enabling smarter credit processes
• Doddl – a digital mortgage and insurance intermediary
• Geowox – centralised, fast, information rich property valuations, powered by AI
• LendWell – an AI-enabled mortgage origination platform
• Luna Connect – enabling Credit Unions, Banks and Insurers to digitise application and compliance processes with no-code automation and AI
• Stingray Labs – a venture studio with a digital-first conveyancing service
• Vesta Insights – smart mortgage management; anticipating arrears and shaping arrears solutions

Discussing the Mortgage Innovation Challenge, Delta Partners General Partner Maurice Roche said “We are delighted to be in a position to allocate funding to eight companies as part of the Mortgage Innovation Challenge. As a nationwide initiative, these successful applicants come from across the country and are tackling different parts of the mortgage market to drive change and bring fresh approaches. We’re excited to observe their progress.”

RDI Hub CEO Liam Cronin said “We were blown away by the level of interest in this competition and the calibre of the applicants.  It is fantastic to see the level of innovation taking place in such a niche sector, and we are delighted that we were part of this initiative to be able to bring funding and support to Irish startups’”

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