Tembo secures £16m to combine savings with live mortgage data for buyers
This article covers Tembo, the fintech startup, which has raised £16m in a growth funding round to accelerate its app and develop an end-to-end homebuying product. The development aims to support first-time buyers and other UK homebuyers by linking savings and mortgage data to simplify the journey from saving a deposit to securing a mortgage.
Tembo, the fintech startup building a combined savings and mortgage platform, has raised £16 million in a growth funding round to accelerate its app and end-to-end homebuying product. The funding arrives as UK homeownership becomes harder to reach for first-time buyers and aims to simplify the path from saving a deposit to securing a mortgage.
Why it matters
Home ownership in the UK remains a major financial hurdle for many households despite a roughly £1.6 trillion mortgage market. First-time buyers face rising deposit expectations and a complex mortgage landscape. A single digital product that links saving directly to borrowing could reduce friction in the journey to owning a home and make trade-offs between different savings vehicles and mortgage options easier to judge.
Tembo’s approach is notable because it combines visibility of progress towards a deposit with live mortgage data, rather than treating savings and lending as separate chores. That integration could matter for customers who are trying to move from saving to applying for a mortgage in a volatile rate environment.
Inside the product
Tembo’s app allows users to save using a range of products, including a Lifetime ISA, Cash ISA and Fixed Rate ISAs, and makes progress towards a deposit visible in one place. It has launched HomeSaver, a combined savings product that offers a 5.24% savings rate when customers use Tembo’s free digital mortgage advice service to buy or remortgage.
After purchase, the app continues to support customers by tracking mortgages live and displaying the best available remortgage rates both with a customer’s existing lender and across the market. The company says its savings business grew tenfold in 2025 and reached £3 billion in assets under administration. Founded in 2020, Tembo plans to use the new funding to expand the app and its end-to-end homebuying platform.
Who are the investors?
The round was led by Gresham House Ventures. Other participants include Goodwater Capital, Aviva, McPike Family Office, Love Ventures, Ascension and the British Business Bank.
Rohit Mathur, Partner at Gresham House, said:
We see Tembo as a critical platform for improving access to home ownership in the UK, which is exactly why we chose to lead this round.
Investors cited the appeal of a product that directly connects saving behaviour to mortgage outcomes and the potential to capture customers at multiple points in the buying lifecycle. The mix of participants includes venture investors and institutional backers, reflecting both growth capital and strategic interest from financial services organisations.
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Founder perspective
Richard Dana, Co-founder & CEO, said:
This investment is a major milestone for Tembo as we continue building the platform that helps people not only find and secure a mortgage, but genuinely feel in control of their journey to homeownership, from the first pound they save to the day they get the keys. The time has come for a more digital, data-led approach to consumer mortgage and wealth journeys, and we believe Tembo is perfectly positioned to become the market leader over the coming years as more people look for a smarter, end-to-end way to get on and move up the property ladder.
The bigger picture
The deal underscores ongoing investor appetite for fintech models that stitch savings and credit together, particularly those addressing housing affordability and first-time buying. For the UK market, where mortgage rules, affordability assessments and rates can shift quickly, a data-led, digital-first experience is increasingly attractive to customers and backers alike.
Tembo’s funding round adds to a broader trend in European fintech of building verticalised financial journeys rather than single-product apps. As the company scales, it will need to navigate regulatory scrutiny around mortgage advice and savings products while proving that integrated digital services can meaningfully improve outcomes for homebuyers across the UK.
They've invested in Tembo
Get to know these fintech investors
| Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|
 Gresham House Ventures | 9 investments investments | 21 contacts contacts | |||
 Goodwater Capital | 2 investments investments | 1 contact contact | |||
 Aviva Ventures (Aviva) | 8 investments investments | 2 contacts contacts | |||
 McPike Family Office | 3 investments investments | more info | |||
 Love Ventures | 13 investments investments | 4 contacts contacts | |||
 Ascension Ventures (Ascension) | 19 investments investments | 6 contacts contacts | |||
 British Business Bank | 53 investments investments | 7 contacts contacts |
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