Mortgage tech startup iYell raises JPY 1.86 billion in Series E funding

iYell has raised a total of 1.86 billion yen through a third-party allotment of new shares to 13 companies, including the National Guarantee Innovation Investment Business Commitment Partnership, Daito Trust Construction, AirTrip, and IDS, as well as venture debt from three companies, including Tokyo Star Bank. The company has raised approximately 8.05 billion yen to date, bringing its total to 9.91 billion yen with this latest round of funding.

iYell calls itself “Japan’s largest mortgage tech startup” in order to simultaneously solve the mortgage problems faced by financial institutions, housing businesses, and end users. The iYell Group is building a “mortgage platform” centered on the mortgage marketplace, and has now grown into a platform in which hundreds of financial institutions and more than thousands of housing businesses nationwide participate.

In overseas mortgage markets, mortgage brokers specializing in mortgages match users with financial institutions and support mortgage procedures.
On the other hand, in Japan, housing businesses provide mortgage consultation and procedure support in addition to home purchase consultations, and are overwhelmed with mortgage procedures that are not their main business. In addition, because housing businesses are not mortgage experts, it is difficult to optimally match users with financial institutions.

iYell Dandori is a mortgage business support system that supports business growth such as reducing the workload and increasing sales for housing and real estate companies, in response to issues such as the large number of analog and cumbersome tasks for housing and real estate companies and the loss of home sales opportunities due to black-box mortgage screening.

By providing mortgage business support that leads to an increase in home sales to housing and real estate companies, iYell supports optimal mortgage proposals and procedure support that meet the needs of end users. “Experts” with knowledge of mortgages and networks of financial institutions, etc. use iYell’s unique cloud-based technology to realize a fast, easy-to-understand, “seamless”, safe and sound borrowing process.

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