Global Mortgage Group Closes $500,000 Angel Round to Disrupt the Global Non-Resident Mortgage Space
GMG is Creating "Borderless Mortgages"
SINGAPORE, April 13, 2020 /PRNewswire-PRWeb/ -- Global Mortgage Group, a leading digital global mortgage brokerage in Asia, has closed a $500,000 Angel Round of investment from SparkLabs and Mirae Asset Venture Investment in Seoul, South Korea. The new capital will be to build-out of their technology platform - LNDRhub, and grow its operations and sales teams regionally.
GMG in eights months since its start has closed over US$50 million in loans with minimal marketing and now has over 20 direct lending relationships in the U.S. and 25 in UK, Europe, Japan, Australia and Thailand, and expanding every week.
There is finally an Asian-based solution for overseas expats and foreign nationals who want a mortgage to purchase an investment home overseas. GMG's loan programs are all market-rate loans, require as little as 25% down-payment, no U.S. credit required and some of their most popular programs do not require any income verification.
GMG estimates that the foreign nationals purchased $250 billion in overseas property last year, representing anywhere between 3-5% of the overall market. By making it easy to obtain an overseas mortgage, they expect this market to be over a $1 trillion dollars a year.
Current bank options for an overseas mortgage is an extremely difficult, time-consuming and stressful and can take anywhere between 4-6 months to complete. GMG currently takes under 45 days for a U.S. mortgage and they expect this to be even faster once their technology platform is completed.
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SOURCE SparkLabs Group
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