Avelo buys TrigoldCrystal

Technology firm Avelo has bought TrigoldCrystal as part of its strategy to extend into the financial adviser market.

The existing TrigoldCrystal management team will join the management team at Avelo.

TrigoldCrystal’s mortgage sourcing capability will complement Avelo Exchange, a broker portal.

Chris Noblet, managing director of Avelo, says: “TrigoldCrystal is already a strong business and we believe that combined with our established market position, our joint customer groups will benefit from a step change in the use of e-commerce in the mortgage intermediary market.”

Jon Whitmore, chief executive officer at TrigoldCrystal says Avelo is the right opportunity to take at this time for the benefit of its customers and staff.

He says: “The need for lenders, distributors and intermediaries to add value for their customers has never been greater and real support in this will now be found from one source at Avelo.”

TrigoldCrystal was nearly bought by rival Mortgage Brain last year but the firm pulled out after the bid was referred to the Competition Commission.