Mortgage fintech Sprive has raised $10m in new funding after growing its registered user base to more than half a million, according to The Times.
The Series A funding round takes the total raised by the business to $15m and follows rapid growth in spending through its mortgage overpayment and cashback app.
Sprive now has 567,000 registered users and supports £42bn of mortgages, The Times reported. Annualised monthly spending through the app has increased 35-fold since January 2025 to £328m.
The business has also recently become cashflow positive and has an annual revenue run rate of more than £18m.
MORTGAGE OVERPAYMENTS
Sprive allows borrowers to earn cashback from everyday spending with retailers, which can then be directed towards mortgage overpayments. It also scans the mortgage market for alternative deals and alerts customers when they may be able to switch.
The firm is an appointed representative of Connect IFA and New Leaf Distribution for mortgage services.
Sprive was founded by former Goldman Sachs bankers Jinesh Vohra and Uzair Bawany and secured investment from Touker Suleyman, Deborah Meaden and Peter Jones after appearing on Dragons’ Den earlier this year (main picture)
GROWTH PLANS
The latest funding round included existing investors Channel 4 Ventures and Ascension alongside new investors Wealth Club, Active Partners and Rank Ventures.
Vohra told The Times the funding would allow Sprive to increase its marketing and accelerate customer and revenue growth as higher mortgage costs put greater pressure on borrowers.
