Haysto launched as an appointed representative of HL Partnership last year, after initially joining the sector as an online aggregator for specialist mortgages.
The investment is expected to help Haysto extend its reach as it prepares to hire 75 employees by the end of this year. It currently has a team of 25 employees.
Between Jonathan Moulton, co-founder and chief executive of Haysto, Garnett and Kholsa, the firm has amassed a £1m investment to support its growth.
Kholsa started his first business, offshore research and analytics services Copal Partners in 2002, before launching OakNorth in 2015. Over his 40-year career, Garnett has launched three software companies Oracle Corporation, Siebel Systems and Salesforce.com.
The firm’s platform aims to offer an end-to-end solution for borrowers who require specialist mortgages.
It said it wanted to build a “faster, more certain and transparent process” for borrowers who do not fit the mainstream market.
The platform also enables customers to manage their mortgage, conveyancing and insurance.
Last year, it partnered with Econveyancer in an agreement which gave Haysto white-labelled access to a list of Econveyancer panel firms.
Moulton said: “Since launching Haysto we’ve helped thousands of customers realise their dream of home ownership after being needlessly rejected by mainstream banks and brokers. As we move into the next phase of growth, we’re focused on bringing in value-add investors; Rishi and Steve’s alignment from a market, technology and company-growth standpoint is a perfect fit for Haysto.
“We’re also thankful to our network partner HLP – in particular CEO Chris Tanner who has provided strong strategic support through our growth.”
He said Haysto has a “profitable business model” which would be bolstered by the investment.
Moulton added: “We’re also expanding our engineering team as we accelerate the development of our platform ready for a major new release later this year.”
