Tembo Money secures £2.5m in seed funding to expand its mortgage platform
The seed round was led by Aviva and Fair by Design to support product expansion.
Tembo Money is a London based financial technology company that arranges specialist family and later life mortgages to help first time buyers secure property.
Tembo Money has secured £2.5m in a seed funding round led by Aviva and Fair by Design. The fresh capital will be directed towards enhancing the company technology platform and broadening its product reach. The funding follows the official launch of the platform earlier in the year as it targets the poverty premium in the housing market.
Participants in the round included Aviva, Fair by Design, and Nationwide. The business focuses on family supported mortgages, allowing older generations to assist younger buyers onto the property ladder without requiring direct cash sums.
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
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About the company
Tembo Money
A financial technology platform transforming consumer lending and mortgages for first time buyers.