Sprive mortgage app closes $10m series A funding round

Sprive, a fintech company that helps homeowners pay off their mortgages faster, has closed a $10m series A funding round, taking the total it has raised to $15m.

The company, which is backed by three investors from BBC1’s Dragons’ Den, said the money would be used to increase its marketing spend and accelerate customer acquisition and revenue growth.

The round included existing investors Channel 4 Ventures and Ascension. New investors were Wealth Club, Active Partners and Rank Ventures.

How the app works

Sprive was founded in 2019 by two former Goldman Sachs bankers. Its app offers users cashback when they spend at retailers including Tesco, Sainsbury’s and Waitrose, paid through digital gift cards. The cashback is then put towards the user’s mortgage.

The app also scans the market for cheaper mortgage deals and alerts customers when it is the best time to switch. The company said it is connected to 16 UK lenders, including all of the high street banks and the major building societies.

According to the company, annualised monthly spend through the app has risen 35 times since January 2025, to £328m. It has 567,000 registered users and supports £42bn of mortgages.

Sprive claims to have saved its users more than £300m in interest. The company said it had recently become cashflow-positive and has an annual revenue run rate of more than £18m.

The Bank of England’s mortgage lenders and administrators statistics put the value of outstanding residential mortgage loans at £1,746.1bn at the end of the first quarter of 2026.

Dragons’ Den deal

Jinesh Vohra, Sprive’s co-founder and chief executive, pitched the business on Dragons’ Den in February.

He secured investment from Touker Suleyman, Deborah Meaden and Peter Jones. The three invested a total of £50,000 for a 5 per cent equity stake, shared between them.

Vohra said the new funding put Sprive in “a strong position to step up our marketing push significantly and accelerate both customer acquisition and revenue growth”.

“Given the cost of living crisis, with mortgage rates going through the roof and borrowers being pushed into extending their mortgage terms in cases well into retirement, the ability to use your weekly shop to reduce your mortgage interest, and ultimately the term of the loan, is hugely appealing,” he said.

“Over time, these payments can really add up,” he added.

In July, Business Matters reported that UK mortgage rates had returned to a one-month high as oil prices reached $100 a barrel, with Rachel Springall of Moneyfacts telling the publication it would be “incredibly frustrating for borrowers to see rates rise back up”.

Wider funding picture

Sprive’s round is smaller than the largest UK technology deals this year, which included Isomorphic Labs’ $2.1bn series B and Nscale’s $2bn series C. UK tech funding reached $15.3bn in the first half of 2026, up 84 per cent, although the money went to fewer companies, with investors making larger bets on a smaller number of businesses.

Other UK fintech firms have also raised money this year. In April, the British Business Bank invested $20m in 9fin as part of a $170m series C round that gave the financial data platform a valuation of more than $1bn.

About the author

Jamie Young

Jamie Young is Senior Reporter at Business Matters, covering SME finance, employment law and Westminster policy since 2016. He has reported on every Budget and Autumn Statement since 2018, helped make sense of the ‘covid era’ and the bounce-back loan scheme from launch through the fraud investigations, and broke the magazine’s coverage of the 2024 late-payment reforms. He joined Business Matters straight from completing his BA in Administration from Exeter University and is NCTJ-qualified. Reach him at jyoung@cbmeg.co.uk

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