Tembo secures £5m from Love Ventures and other backers to develop its mortgage technology
The funding round was led by new investors Love Ventures and McPike Family Office alongside returning backers Aviva Ventures and Ascension Ventures.
Tembo is a digital mortgage platform based in London that helps customers navigate affordability challenges and mortgage schemes. The company operates as a tech-focused mortgage broker providing smart decisioning technology to expand home buyer budgets.
Tembo has secured £5m in fresh funding from a syndicate of new and existing backers to scale its proprietary mortgage technology. Love Ventures and McPike Family Office participated as new investors in the round, alongside returning backers Aviva Ventures and Ascension Ventures.
The capital will be deployed primarily towards product development, focusing on the company decisioning and affordability platform. In addition, the firm intends to expand its strategic partnerships with house builders, lenders, and wealth managers.
The raise follows a robust start to the year for the digital mortgage broker, which assists prospective buyers locked out of traditional lending avenues. The platform specialises in family assisted mortgages and specialist buying schemes designed to improve affordability for consumers facing rising housing costs.
From the founder
"The market for the unaffordables is continuing to grow, as large swathes of the population have been locked out of homeownership."
Richard Dana
CEO and founder at Tembo
Use of funds
- 01Continue product development
- 02Accelerate go-to-market
