Matt Mawdesley has co-founded and launched a digital-only bridging lender Morpheus.

The new lender offers funding solutions for UK commercial, corporate and property professionals.

Morpheus will initially focus on bridging loans up to £750,000 and offer competitive rates.

Mawdesley, who is the co-founder and chief executive officer of the lender, previously served as head of strategy at Together and AO.com.

He has also held senior roles across the mortgage, technology, private equity and banking sectors.

Alongside Mawdesley is Lee Jones who will serve as co-founder and chief financial officer as well as Ash Richardson who will work as head of sales.

They will be supported by a board of advisers and non-executive directors, which include Together’s former chief risk officer Steve Miller, HSBC’s head of growth lending Roland Emmans and Connells Group’s chief information officer Tom Pirrie.

The digital-only platform includes biometric authentication and open banking, as well as digital Know Your Customer and due diligence checks.

Commenting on the launch, Mawdesley says: “I’m incredibly proud to launch Morpheus with the team and introduce an innovative, new way of lending.”

“This digital and more efficient experience is what customers have been crying out for, and with the right people on board, we’re confident in our offering going from strength to strength. We’ve secured strong funding and have a clear commitment to simplifying the customer journey through technology.”