Tembo, a London, UK-based company providing a digital savings and mortgage platform, raised £14M in Series B funding.
The round, which brought total funding raised to £20m, was led by Goodwater Capital with participation from existing investors including Aviva, Ascension Ventures, Love Ventures and McPike Family Office.
The company intends to use the funds to scale its savings app.
Co-founded by Richard Dana, Eddie Ross and Geoff Wright in October 2020, Tembo is a digital savings and mortgage platform specialising in optimizing affordability to help people buy their home. Tembo has access to over 100 lenders, 10,000 mortgage products and 25 bespoke mortgage schemes to uncover a borrower’s true affordability, including a specialist range of Income and Deposit Boost family-mortgages. This is paired with its recently launched savings app, which focuses on helping customers save towards their first property purchase and future financial goal via its Tembo Lifetime ISA.
Since launch, the team has grown to 85 employees.
FinSMEs
29/11/2024