Matt Mawdesley, a former head of strategy at UK property lender Together, and Lee Jones, a co-founder of Sedulo, an advice service for mid-tier firms in the UK, created the Manchester-based start-up.

"On the belief that there's a better way to provide mortgages in the specialist lending space," the firm states that it was founded.

The CEO of the company, Mawdesley, notes that the reason Morpheus was developed was to satisfy the needs of lenders, brokers, and consumers who have been "crying out" for a "digital and more efficient experience" when it comes to obtaining bridging loans.

In order to expedite the loan procedure, Morpheus will initially offer bridging loans up to £750,000. The start-up will do this by utilizing a number of technological tools, including digital KYC and due diligence checks, open banking, and biometric verification.

Morpheus says that, in comparison to the sector average of 58 days last year, their method "significantly reduces" the time needed to get funds.

Furthermore, the business claims to have developed a "bespoke property valuation tool" that makes use of artificial intelligence (AI) and data analytics. By implementing integrated electronic signatures and automating chores and follow-ups for brokers and clients, the technology removes the need for paper.

Mawdesley continues, "We have a clear commitment to using technology to simplify the customer journey and we have secured strong funding."