Morgana a Latam proptech, raised USD $3M in a pre-seed round

Mexico City, July 14 2022.- morgana, a digital solution that helps people find the best mortgage loan in the market, began operations attracting the attention of investors, achieving a pre-seed round of USD $3 million, co-led by Speedinvest and Cometa, followed by Angel Ventures, Nido Ventures, and several angel investors. 

This amount supports the strength of the startup's operations in Mexico, in a context in which there is a large population of economically active young people looking for a home, eager for digital solutions that present them with different financing alternatives in the shortest possible time.

By digitalizing the application process, and backed by a team of experts, morgana looks to break paradigms of a traditionally complex and unnecessarily long process with a faster, easier and more transparent way, without even leaving home. 

This proptech was born in Mexico under a favorable environment for the mortgage sector, thanks to the growth registered in mortgages, a widespread trend in the country. During 2021, the mortgage loan book grew 21% and, according to a study by Sociedad Hipotecaria Federal (SHF), a 10.1% increase in mortgage loan demand is expected for this year. Given the ​ hopeful outlook in the sector, a fast and digitized process (which are 2 of morgana's differentiators) will allow to obtain mortgage loans much more easily.

According to Cristian Huertas, CEO: “In morgana, a person can get mortgage quotes from 11 banks, with just one application, in one place, at no extra cost and through a process that is 100% digital. Moreover, the attention is totally personalized, which helps solve all of the client's doubts quickly and transparently”.

Currently, 85% of the national mortgage market is led by four banks, creating a closed and uncompetitive ecosystem. morgana was born with the mission of creating a fairer playing field and offering Mexicans an open and diverse sector, helping people ​ get one of the fundamental aspects of their financial lives: own a property.

In this regard, Ana Lucía Pereyra, COO of morgana, adds that “Traditionally, the response to the mortgage loan application it's given in a period of 30 days, but with our business model we speed up most of the processes, leveraging in technology, our network and expertise, finding a solution in as little as 9 days”.

The founders of the startup are Cristian Huertas, CEO; Ana Lucía Pereyra, COO; and Andrés Silberman, CTO, a team of experts in mortgage, financial and technological solutions, with extensive experience in fintech companies and financial institutions in Latin America. This leadership team has been joined by senior executives from successful fintech and proptech companies, reinforcing the investors confidence.

In an industry where rates have skyrocketed, finding the right rate option quickly and easily becomes even more important. In light of this, morgana opens up as an option focused on getting the best mortgage range for each individual.

"Our goal is to help more people own a home, while leaving behind the slow, cumbersome and bureaucratic traditional process . Technology is breaking paradigms and revolutionizing the way of doing things; in mortgage loans, we have the ideal solution and we bet on digitalization as the first step so that everyone who wants ​ to, can acquire their own patrimony"; concludes the CEO of morgana. To learn more about the company, visit morgana.mx.