Sprive, an AI-driven consumer FinTech app, has closed a £7.7 mn Series A funding round as it prepares to increase customer acquisition and expand its mortgage management platform.
The company was founded in 2019 by former Goldman Sachs bankers Jinesh Vohra and Saad Hashim. Sprive helps UK homeowners reduce mortgage debt by directing cashback earned through everyday shopping towards automatic mortgage overpayments.
Those additional payments reduce outstanding principal, lowering interest charges over the life of a mortgage and potentially shortening the repayment term. Sprive also scans the mortgage market for alternative deals, giving users another route to reduce borrowing costs when cheaper products become available.
Customers have used the platform to cut their combined mortgage balances by £26 mn so far. Sprive estimates those reductions have generated potential lifetime interest savings exceeding £300 mn across its user base.
The app now has 567,000 registered users and supports around £42 bn of mortgages. Its growth has accelerated since January 2025, with revenue increasing more than 25 times during the period.
Annualised spending through Sprive has risen 35-fold to £328 mn over the same period. The company recently became cash-flow positive and now reports an annual revenue run rate above £18 mn.
All of Sprive’s main existing investors returned for the Series A. Ascension participated alongside Channel 4 Ventures and the Velocity EIS Technology Fund, continuing their financial backing of the company after earlier rounds.
New investors included consumer-focused investment firm Active Partners, Wealth Club and Rank Ventures. Several angel investors with FinTech backgrounds also participated in the financing.
Sprive raised £5.5 mn in its previous funding round during 2025. The latest investment takes its financing further as management shifts more resources towards marketing, customer acquisition and revenue growth.
The company also appeared on BBC television programme Dragons’ Den earlier in 2026. Since January 2025, its growth in transaction volumes and revenue has accelerated as higher mortgage costs have increased household attention on repayment strategies and refinancing.
CEO Jinesh Vohra said rising borrowing costs have pushed some homeowners towards longer mortgage terms extending well into retirement. Sprive’s model gives customers a way to convert cashback from regular spending into incremental mortgage repayments without creating a separate manual process each time.
Those individual payments are relatively small, but repeated overpayments reduce the mortgage balance on which future interest is calculated.
Vohra said the cumulative effect becomes meaningful over longer repayment periods, especially when mortgage rates remain elevated.
He described the Series A as evidence of investor support for Sprive’s business model after the company reached cash-flow positivity and demonstrated stronger revenue growth. Existing shareholders returning for the round also gave the company continuity as it enters its next stage of commercial expansion.
Sprive plans to use the new funding to increase marketing spending substantially. Management also intends to accelerate customer acquisition and expand revenue after demonstrating higher transaction volumes through the app.
Ascension managing partner Jean de Fougerolles said mortgage management remains relatively passive for many households despite a home loan often representing their largest financial commitment. He said Sprive is starting with mortgages while developing a broader approach to consumer debt management.
Since Ascension first invested, Sprive’s user base has increased tenfold, according to de Fougerolles. During the latest reported month, 1.2% of UK homeowners with mortgages shopped through Sprive.
The UK has around 8.5 mn owner-occupied mortgages, leaving Sprive with a much larger potential market than its current registered customer base. Management’s next phase will concentrate on converting more of those borrowers into active users while increasing spending flowing through the platform.
Sprive’s commercial model connects everyday consumer spending with mortgage repayment rather than treating the home loan as a separate financial activity. Cashback generated through participating retailers moves towards reducing debt, while the app monitors mortgage products for opportunities to switch.
The £7.7 mn Series A gives Sprive additional capital after a period of rapid growth in users and spending. With £42 bn of mortgages now connected to the platform and annual revenue running above £18 mn, the company is moving into a larger marketing push aimed at increasing its share of the UK mortgage market.
