Digital savings and mortgage platform Tembo has raised £16m in growth investment.
The round was led by new investor in the group, Gresham House Ventures, alongside existing investors Goodwater Capital, Aviva Investors, McPike Family Office, Love Ventures, Ascension and new participation from the British Business Bank via Ascension.
Tembo said the latest funding follows a breakout year in 2025, which saw the group’s savings business multiply 10 times in size to reach £3bn in assets under administration, as more customers used the Tembo app.
The firm will use the funds to expand its app and end-to-end homebuying platform, which is designed to improve access to homeownership for customers who may struggle to meet standard affordability criteria.
Tembo co-founder and CEO, Richard Dana, said: “This investment is a major milestone for Tembo as we continue building a platform that doesn’t just help people find and secure a mortgage, but puts them genuinely 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.”
Investment partner at Gresham House, Rohit Mathur, said: “Homeownership in the UK has become one of the hardest financial milestones to reach, despite a £1.6trn mortgage market.
“Homebuyers, especially first-time buyers, are expected to save more, faster, while navigating an increasingly complex mortgage landscape. Tembo brings those pieces together in one platform, helping people save smarter with its innovative products, and access mortgages with confidence.”
Latest News
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories