Generation Home received an undisclosed Series B funding round

Start-up mortgage lender Generation Home has received an undisclosed Series B funding round from Legal & General, which it will use to fuel further commercial growth.

Legal & General now has a 18.75 per cent stake in the business and will take a seat on the board alongside Mithril Capital’s Peter Thiel and Firstminute Capital’s Brent Hoberman.

The lender said that the funding would be used to “support the growth of the business as its commercial proposition expands”.

Legal & General said that it would support Generation Home’s ambitions to become a “one-stop-shop for homebuying expertise” and it would lend the expertise of Legal & General Mortgage Services.

Generation Home and Legal & General said that they would work together to bring out innovative mortgage products and technology solutions, and this would meet the needs of underserved existing and aspiring homeowners.

Generation Home was launched in 2019 and began trading in October 2020. It offers income booster, deposit booster and dynamic ownership products.