Morpheus Lending operates in the unregulated bridging sector and uses a “bespoke digital platform” to facilitate “quick and efficient” loans.
The deal was to support a refinance and further refurbishment prior to sale and used its artificial intelligence (AI)-driven automatic valuation (AVM) tool and a dozen other API-integrated technologies.
The business was co-founded by Matt Mawdesley and the firm has spent the last 12 months “developing its proprietary technology, building robust policies and legal frameworks, and establishing strong relationships with key stakeholders across the sector”.
Matt Mawdesley, Morpheus Lending’s CEO, said: “This first deal is the culmination of over a year’s hard work from the whole team and marks the start of what we believe is an incredibly exciting journey for Morpheus.
“We see a huge opportunity to drive innovation and deliver sharp customer and broker focus in the specialist lending sector – powered by technology and excellent service. We look forward to working with more property professionals as we scale, expand our offering, and bring continued innovation to the market.”
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