Sprive, an AI-driven consumer FinTech app that helps UK homeowners pay down their mortgages faster using everyday spending, has closed a $10m (£7.7m) Series A funding round to fuel its next stage of growth.
The round was backed by all of Sprive’s existing investors, including impact investor Ascension, broadcaster-owned Channel 4 Ventures and the Velocity EIS Technology Fund, alongside a group of new backers made up of consumer-focused investment firm Active Partners, Wealth Club, Rank Ventures and a number of angel investors with deep FinTech experience.
This latest raise takes the total amount Sprive has secured since launch to more than $15m. The company was founded in 2019 by Jinesh Vohra and Saad Hashim, two former Goldman Sachs bankers.
Sprive’s app allows users to put cashback earned from everyday shopping towards automatically overpaying their mortgage, helping them reduce interest costs and, in some cases, shorten the length of their loan. The app also tracks the mortgage market so customers can spot and move to cheaper deals.
So far, Sprive customers have cut their combined mortgage balances by £26m and stand to save more than £300m in interest as a result. The app now has 567,000 registered users and supports approximately £42bn worth of mortgages.
The company appeared on the BBC’s Dragons’ Den earlier this year, not long after closing a seed funding round in 2025. Since January 2025, Sprive’s revenue has grown more than 25-fold, while annualised spend processed through the app has increased 35 times over the same period to reach £328m. The business has also turned cash flow positive, with an annual revenue run rate now above £18m.
Sprive founder and CEO Jinesh Vohra said, “Given the cost-of-living crisis, with mortgage rates going through the roof, and borrowers being pushed into extending their mortgage terms in cases well into retirement, the ability to use your weekly shop to reduce your mortgage interest, and ultimately the term of the loan, is hugely appealing. Over time these payments can really add up.
“The fact that even in this tough investment market we managed to pull off this Series A raise is a huge vote of confidence, particularly as so many of our previous backers had no hesitation coming back for more. With these new funds under our belt, and having convincingly shown the viability of our product and our business, we are now in a strong position to step up our marketing push significantly and accelerate both customer acquisition and revenue growth.”
Ascension managing partner Jean de Fougerolles said, “Sprive is a great example of the businesses Ascension wants to back. Technology that changes the systems we all rely on in everyday life. For most people, a mortgage is the biggest financial commitment they’ll ever make, yet managing it is still surprisingly passive. Sprive is changing that, starting with mortgages and ultimately giving people a much easier way to take control of debt more broadly.
“Since we invested, the user base has grown 10x and last month 1.2% of mortgaged homeowners shopped through Sprive. With 8.5 million owner occupied mortgages in the UK, the headroom from here is significant. We’re excited about what that could become at scale: a platform that genuinely changes people’s relationship with debt and gives households more control over their money.”
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