Mortgage Magic attracts inward investment interest at MIT international conference

13 March 2020

Mortgage Magic director, Pradip Poi Lotlecar, delivered a keynote presentation of its CRM and mortgage management system at the annual MIT Enterprise Forum (MITEF) held in Jeddah, Saudi Arabia between 5th and 7th March.

The Mortgage Magic platform, which launched to mortgage brokers in January was showcased in the Startup Investment Forum (SIF) at MITEF, having been chosen by organisers for inclusion because of its innovative use of AI and blockchain technology.

The forum, organised by the world renowned Massachusetts Institute of Technology (MIT) every year and attended by an international audience including investors, academics and IT specialists, is designed to highlight the best uses of new technology.

Since the presentation, there has been keen interest from venture capitalists and investors, including Saudi based international company ALJ Group.

Tanjir Sugar, Chief Executive of Mortgage Magic, said, “Having only just launched our platform here in the UK, we were delighted to have had the opportunity to demonstrate the technology behind the new system to an audience which included not just potential investors, but also some of the people working at the cutting edge of technology and its applications.

The response from mortgage brokers to our new platform in the UK has been very strong. So, going to MITEF and receiving such a positive reception, which has led to some very strong potential investor interest, is particularly encouraging for us. New investment will enable us to scale up our operation and bring forward improvements and enhancements, which I am sure will help Mortgage Magic become the CRM gold standard for mortgage brokers for many years to come.”