INSUBCONTINENT EXCLUSIVE:
Trussle, the online mortgage broker backed by the likes of Goldman Sachs, LocalGlobe, Finch Capital and Seedcamp, has lost its founding
Chairman Simon Williams and others in the senior leadership team
further detail, with a spokesperson for the company advising that any questions with regards to why Malhi has resigned should be put to him
I pinged Malhi for comment but he declined to take my call having committed to spending the day with family.However, he did give a statement
as a young first-time founder growing a business to a size where more experienced leadership is needed to take it to the next stage
bolstering the leadership team.Along with Williams, Trussle announced in November that it had recruited ex-Wallaby Financial co-founder Todd
Zino as CTO, and ex-head of Zoopla content strategy Sebastian Anthony as head of Organic Growth and Product Manager.At the time of the
also clear is that the online mortgage broker space is a tough one and pretty capital-intensive due to high customer acquisition costs
compared to traditional brokers where cross-selling is the norm but cost of operations is greater and less scalable
The promise of the online broker model is that once scale is achieved, lower operational costs will start to offset those higher and
fiercely competitive acquisition costs.In other words, a classic venture/digitisation bet, but one that is yet to pan out definitively.As
million Series B in May 2018, and that its backers remain bullish
As always, watch this space.
