Generation Home (Gen H) has raised a Series B round of funding led by Legal & General.
Legal & General has acquired an 18.75% stake, taking a seat on the board alongside Peter Thiel’s Mithril Capital and Brent Hoberman’s Firstminute Capital.
The funding from Legal & General will be used by Gen H to support the growth of the business as its commercial proposition expands.
Gen H says the two companies will work together to bring new mortgage products and technology solutions to market.
Last month, Gen H Legal was launched to provide conveyancing services to Gen H customers.
Gen H co-founder and chief executive Will Rice says: “At Gen H, we believe that owning a home should be an opportunity for everyone. That’s why we’re rebuilding the home-buying process to make it simple, transparent and fair.”
“We’re excited to welcome Legal & General as a new shareholder and look forward to working with them towards our shared vision of an exceptional end-to-end home-buying service that truly puts the customer first.”
At the start of November, Gen H lowered its rates across all loan-to-value (LTV) bands for two- and five-year mortgage product ranges.
