Digital Savings and Mortgage Platform Tembo Raises £16 Million to Transform Homeownership for First-Time Buyers

Tembo, the UK-based digital savings and mortgage platform, has raised £16 million in growth funding to scale its end-to-end homebuying and savings ecosystem aimed at helping first-time buyers onto the property ladder. The investment round was led by Gresham House Ventures, with participation from Aviva Investors, Goodwater Capital, Love Ventures, Ascension, the British Business Bank and the McPike Family Office — which also happens to be the largest investor in prominent UK neobank Starling Bank.

Founded just over five years ago by Richard Dana, Eddie Ross and Geoff Wright, Tembo has quickly expanded into a digital savings and mortgage service that integrates saving tools like ISAs and a new HomeSaver product with personalised digital mortgage advice. The company’s savings arm grew ten-fold over 2025, reaching £3 billion in assets under administration — a sign of strong consumer demand for transparent, tech-driven financial solutions amid a challenging housing affordability environment.

Tembo says the fresh funding will accelerate product development, deepen partnerships across financial services and support its ambition to capture roughly 20 % of the UK first-time buyer market within the next two years.

Key Highlights

• £16 million raised: Tembo secures growth capital led by Gresham House Ventures with broad investor support.
• Broad backing: Investors include Aviva Investors, Goodwater Capital, Love Ventures, Ascension and the British Business Bank.
• Rapid growth: Savings business grew ten-fold in 2025 to £3 billion AUM.
• Product expansion: Funding to support app development and end-to-end savings and mortgage offerings.
• Market ambition: Tembo targets ~20 % share of the first-time buyer segment within two years.
• Innovative products: Includes HomeSaver, offering a high savings rate tied to mortgage advice use.

Why This Funding Round Matters

Tembo’s latest fundraising is a strong indicator of investor confidence in fintech solutions that integrate savings and lending to address real-world affordability problems — particularly for younger and first-time homebuyers struggling with deposits and mortgage access in the UK’s competitive property market.

Traditional banks and estate services typically silo savings products and mortgage advice, often leaving consumers navigating multiple platforms and intermediaries. Tembo’s model unifies these components, offering tools that help users save efficiently, plan for a deposit and access tailored mortgage guidance in one digital experience — a growing trend in fintech aimed at customer lifecycle finance rather than isolated transactions.

This approach is resonating with users: Tembo’s savings platform now manages billions in customer funds, partnerships span over 100 organisations (including Aviva and Saga), and its recently launched HomeSaver product links attractive savings rates with digital mortgage support — creating a compelling savings-to-homeownership path.

Strategic Use of Funds and Future Plans

Product and App Enhancements

Tembo plans to use the new capital to deepen its mobile app’s capabilities — including enhanced savings management, personalised homebuying guidance, expanded mortgage planning tools and richer analytics that help users track progress toward their deposit goals.

Partnership Growth

With a wide network of partners already integrated into its platform, Tembo will continue expanding strategic alliances across insurance, savings and broader financial services channels, embedding its technology into more third-party user journeys.

Market Expansion Ambitions

Tembo is positioned to capture a significant share of the UK first-time buyer market within the next few years, leveraging its digital-first products, strong investor backing and growing brand recognition to challenge legacy providers and meet demand for accessible, transparent financial tools.

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