It will initially offer bridging loans up to £750,000
A new digital-only bridging lender targeting UK commercial, corporate, and property professionals has been launched.
Matt Mawdesley (second from left), a 32-year-old entrepreneur from Manchester, has introduced Morpheus, aiming to revolutionise the specialist lending sector by leveraging technology to modernise the mortgage process.
The company, led by Mawdesley as co-founder and chief executive, promises a more efficient and streamlined loan experience. Mawdesley, previously head of strategy at Together and AO.com, brings extensive experience from the mortgage, technology, private equity, and banking sectors.
Morpheus has assembled a team of industry expertise, including co-founder and chief financial officer Lee Jones, operations director Richard Lawton (second from right), and head of sales Ash Richardson. The startup is further supported by advisers and non-executive directors such as Together’s former chief risk officer Steve Miller (far right), HSBC’s head of growth lending Roland Emmans, and Connells Group’s chief information officer Tom Pirrie (far left).
The lender will initially offer bridging loans up to £750,000, operating exclusively through digital channels, utilising biometric authentication, open banking, and digital Know Your Customer checks to expedite the loan process. It has also developed a bespoke property valuation tool using data analytics and AI, aiming to cut down the industry average funding time of 58 days.
“I’m incredibly proud to launch Morpheus with the team and introduce an innovative, new way of lending,” Mawdesley said. “This digital and more efficient experience is what customers have been crying out for, and with the right people on board, we’re confident in our offering going from strength to strength. We’ve secured strong funding and have a clear commitment to simplifying the customer journey through technology.
“Drawing on years of industry experience and understanding of the complexities that customers, brokers and lenders face, we saw an opportunity to change that by creating a solution that takes a truly digital-first approach. This ultimately will set us apart in the UK bridging lending space and therefore lead to better collective outcomes for all stakeholders.”
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