UK mortgage fintech Sprive has raised £5.5 million in a funding round led by Ascension, with participation from Channel4Ventures, Velocity Capital, and Two Magnolias, as the startup aims to revolutionize how Britons manage their home loans.
With around 80% of UK household debt tied up in mortgages, Sprive offers a smarter, automated way for homeowners to overpay their mortgage and save on interest. Using AI-driven automation, the platform intelligently tracks a user’s spending habits, identifies spare change, and automatically directs it toward mortgage overpayments. It also continuously scans the market to recommend better mortgage deals, maximizing long-term financial savings.
Launched just three years ago, Sprive’s rapid momentum has earned it a place in NatWest’s inaugural fintech growth programme, spotlighting it as one of the UK’s most promising financial innovators.
CEO Jinesh Vohra emphasized the platform’s tangible impact: “Sprive is set to have a huge positive effect on our customers’ finances. Our average user is already on track to shave three years off their mortgage, collectively saving over £100 million in interest.”
The new funding will fuel further product development and expand Sprive’s reach, helping more UK homeowners gain control of their mortgage journey and unlock earlier financial freedom.