DataWollet raises £1m pre-seed to speed mortgage underwriting via instant data gateway
This article covers DataWollet, a fintech startup that has raised £1m in a pre-seed round to build a single, instant gateway for consumer financial data. The development aims to speed processes such as mortgage applications and reduce friction for lenders, brokers and consumers by improving access to timely financial records.
DataWollet, a fintech startup, has raised £1m in a pre-seed round to build a single, instant gateway for consumer financial data. The product aims to reduce friction in processes such as mortgage applications, which often stall because firms cannot quickly or reliably gather customers' financial records.
Why it matters
Access to timely, complete financial data is a persistent pain point for lenders, brokers and other financial services. Delays and manual document collection create poor customer experiences and lost business. A streamlined, instant gateway could speed underwriting and affordability checks, reduce abandonment during application flows and cut operational costs for firms that still rely on manual verification.
The announcement also touches on diversity in UK venture finance. Early-stage backing that prioritises underrepresented founders can influence which products reach the market and who benefits from innovation.
Inside the product
DataWollet says its service provides a single access point to consumer financial data; the company highlights mortgage applications as a primary use case where better data flow could materially improve outcomes. The product is positioned as an integration layer between consumers, data sources and business processes, intended to remove manual steps and accelerate decision-making.
Founders include Jen Lothian, a former British Army captain and ex-banker, and Dr Luke Hope, described as a leading AI innovator. Technical details in the announcement are limited; the claim set focuses on simplification of data access and faster customer journeys rather than specific protocols or partnerships with banks and open banking providers.
Who are the investors?
The round was led by 1818 Venture Capital and included participation from members of the Angel Academe Network and the Angel Academe EIS Fund.
The Angel Academe EIS Fund is being positioned in the announcement as a vehicle that combines Enterprise Investment Scheme tax incentives with an explicit focus on backing female-led businesses. The release highlights that December is a time when EIS relief is on investors’ minds because of year-end tax planning and notes EIS can offer up to 30% income tax relief for qualifying investments.
In the announcement, Tom Britton, Co-founder of SyndicateRoom, said:
DataWollet’s successful oversubscribed round demonstrates the high-calibre opportunities that exist when you actively focus on a diverse pipeline. This inaugural investment from the Angel Academe EIS Fund is a positive step forwards in ensuring venture capital investments bridge the gender funding gap, and we are incredibly excited to support Jen and Luke. We look forward to seeing the fund deliver both meaningful social impact and strong returns for our investors through its future investments in innovative female-led businesses.
In the announcement, Charlotte Sadd, Co-lead at Angel Academe, said:
DataWollet has the potential to be a genuinely groundbreaking service... We're thrilled to be investing in the company not just as individual angels, but now from the Angel Academe Fund too!
If you're researching potential backers in this space:
- Explore our list of fintech venture capital firms in the UK
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Founder perspective
The founding team frames the raise as both a product milestone and an endorsement of their recruitment and go-to-market plans. In the announcement, Jen Lothian, Co-founder & CEO at DataWollet, said:
With the Angel Academe team, it has felt like a real partnership throughout the journey... They have been pivotal in helping us to secure our now over-subscribed round and we are thrilled to be the first company supported by investment from their fund.
Lothian’s background in the military and banking is presented as informing the company’s focus on operational reliability and financial processes. Dr Luke Hope’s AI experience is cited as a technical anchor for the product, though the team has yet to publish technical integrations or customer case studies in this release.
The bigger picture
Improving data flows into mortgage and lending processes is a clear area of interest for fintech innovation. Faster verification and richer data could help lenders make more accurate affordability assessments and reduce fraud, while giving consumers a smoother experience.
The wider context includes persistent underinvestment in female-led businesses in the UK; public and private initiatives that combine tax-efficient investing with diversity goals aim to close that gap. The deal also signals continued appetite among UK fintech investors for startups that tackle backbone infrastructure problems rather than consumer-facing apps.
As DataWollet moves from pre-seed into product development and early customer outreach, its progress will be worth watching for lenders, brokers and other firms that still depend on slow document collection. The outcome may also be an indicator of how targeted funds and EIS vehicles influence which founders gain access to early capital across the UK and Europe.
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