The founder of PropTech Habito has been replaced as CEO.

Daniel Hegarty stepped down from the leadership position at the London-based digital mortgage broker in March.

Now Ying Tan, investor and founder of mortgage broker Dynamo – which he exited in 2021 – has been confirmed as his successor.

Existing backers Augmentum Fintech, SBI Investment, Volution and Bootstrap Europe have also injected fresh funds into Habito, which provides mortgage switching and home-buying services but stopped offering its own mortgages due to turbulence in the property market caused by the rise in interest rates.

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Last year Habito raised £5 million in funding after a proposed merger with mortgage broker London & Country fell through and it subsequently laid off half of its broker team. It stated then that it aimed to reach profitability later this year.

Habito – founded in 2016 – previously raised £35m in a Series C round in late 2020.

“I’ve admired Habito from afar since its launch in 2016 and I’m beyond thrilled to have the opportunity to take the company to the next level,” said Tan.

“With the cost-of-living biting, energy prices skyrocketing and interest rates at historic highs, it’s more important than ever for UK mortgage-holders and first-time homeowners to have access to the very best mortgage and home-buying advice.”

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