Mortgage cashback app Sprive has reported a sharp increase in customer activity, with shoppers spending almost £185 million through the platform in the 12 months to August 2026.
The number of customers making purchases through the app increased by 808%, from 24,731 to 224,655, while the volume of successful gift-card transactions rose from 364,640 to more than 3.5 million.
Total spending reached £184.91 million, compared with £17.63 million in the preceding 12 months, as both the number of active shoppers and their average expenditure increased.
Average annual spending per shopper rose by 15.5%, from £713 to £823, while the average transaction value increased by 9%, from £48.35 to £52.53. Customers also made purchases more frequently, averaging 15.7 transactions during the year against 14.7 previously.
Sprive allows mortgage borrowers to earn cashback by purchasing gift cards for everyday spending, with the rewards automatically directed towards mortgage overpayments. The app also searches the mortgage market for alternative deals to help borrowers identify potential savings when switching products.
SUPERMARKETS DOMINATE CUSTOMER SPENDING
Supermarket purchases accounted for 58% of all spending through the platform, making grocery shopping by far its largest category.
Average supermarket expenditure per shopper increased from £399.10 to £477.35 over the period.
Among other established spending categories, home and DIY recorded a 61% increase in average expenditure to £93.97 per shopper.
Travel, leisure and experiences saw spending rise by 76.7% to £26.15, while jewellery increased by 66%. Fashion and footwear recorded growth of 32%, with spending on coffee, pubs and restaurants up 33%.
REGISTERED USERS REACH 567,000
The increase in shopping activity comes as Sprive expands its wider mortgage customer base following a $10 million (£7.7 million) Series A funding round, which took the company’s total investment raised to more than $15 million.
Sprive now has 567,000 registered users and supports mortgages worth approximately £42 billion.
According to the company, customers have collectively reduced their outstanding mortgage balances by £26 million since launch, with potential future interest savings exceeding £300 million.
Sprive also secured investment through the BBC programme Dragons’ Den, where founder and chief executive Jinesh Vohra agreed a £50,000 investment in exchange for a 5% equity stake, backed by Touker Suleyman, Deborah Meaden and Peter Jones.
Vohra said: “The headline growth in our customer base is encouraging, but for us the more important measure is what those customers are doing once they’re using Sprive.
“We’re seeing both more frequent use and higher average spending, which shows that customers are incorporating Sprive into more of their everyday shopping. The fact that supermarkets account for the majority of spending is particularly important because it demonstrates the potential for customers to earn mortgage cashback from purchases they would be making anyway.
“We’ve now reached a point where the scale of the platform is becoming increasingly significant, but we’re still seeing strong growth in engagement among individual shoppers. That’s an important combination for us as we continue to invest in customer acquisition and build Sprive into a much bigger part of the mortgage market.”
REVENUE GROWTH AND CASH FLOW
Sprive reported that its revenue has increased more than 25-fold since January 2025, while annualised spending through the app has grown 35-fold over the same period to £328 million.
The company said it had recently become cash-flow positive and was generating an annualised revenue run rate of more than £18 million.
The latest figures indicate that growth is being driven not only by customer acquisition but also by greater use of the platform among existing shoppers, as Sprive seeks to establish cashback-funded overpayments as a regular part of mortgage management.
