Hypomo obtains a Finacial Licence in Hungary and starts expansion

We are proud to announce that Hypomo’s application for a license to provide brokerage services has been approved by the National Bank of Hungary. Financial License will allow us to act as a broker for our awesome banking partners in Hungary.

Receiving the Hungarian license is a very important achievement for us, aligned with the previously announced expansion to the CEE region.

As Hypomo’s CEO Mark Flores Martin said:

Hungary is the first country we are expanding to after starting our operations in Slovakia in late 2016. We see great potential for our services here. We believe Hungary is one of our key markets we would like to be operating on and will greatly help us taking Hypomo to the next level.

Hypomo will officially be the first online digital Mortgage broker in Hungary. We will bring digital loan process to the local market, using the best technology available to provide the best value for our clients.

Receiving licence is just a first step for Hypomo on the Hungarian market. In the coming months, we will be testing and adapting our procedures and working closely with local banks and other partners, to ensure the highest quality of customer service.

Hypomo will start operating on the Hungarian market in August, once we are sure that we have all the resources needed in place, to provide the best possible experience for our clients.

Mark Flores Martin, CEO:

I would like to thank each and every person who has been involved in this process. This is huge step for us in our journey to become a Mortgage Broker for all Europeans removing borders from the loan proccess.

Hungary — With about 10 million inhabitants, Hungary is a medium-sized member state of the European Union. The Hungarian is the 55th-largest economy in the world (out of 188 countries measured by IMF) with GDP per capita of 16,905 USD forecasted for 2019. The unemployment rate was 3.5% in January 2019. Major mortgage loans providers in Hungary include domestic OTP Bank, MKB Bank, K&H (the local unit of Belgian KBC Groep), Austrian Erste Group Bank and Raiffeisen and Italian UniCredit and Intesa SanPaolo.