Sprive

Investor: Ascension

London-headquartered mortgage overpayment and cashback platform Sprive has closed a £7.7 million ($10 million) Series A funding round led by Ascension, with participation from Channel 4 Ventures, Velocity EIS Technology Fund, Active Partners, Wealth Club, Rank Ventures, and notable fintech angels. Summary of transaction details: Value: £7.7 million ($10 million) Series A round (bringing total equity funding raised to date to $15 million). Sector: Fintech / PropTech / MortgageTech & Consumer Wealth. Advisor: Not disclosed. Key Entities: Target: Sprive (Sprive Financial Ltd); Lead Investor: Ascension; Core & Follow-on Backers: Channel 4 Ventures, Velocity EIS Technology Fund, Active Partners, Wealth Club, Rank Ventures; Dragons' Den Investors: Deborah Meaden, Peter Jones, Touker Suleyman; Key Founders: Jinesh Vohra (CEO), Saad Hashim (Co-Founder). Location: London, UK (HQ). Note: Founded in 2019 by former Goldman Sachs investment bankers Jinesh Vohra and Saad Hashim, Sprive operates an AI-driven consumer financial management platform designed to help homeowners pay off their mortgages years faster. By integrating everyday retail spending across supermarket partners like Tesco, Sainsbury's, and Waitrose, the platform automatically routes earned retail cashback directly into overpaying loan balances. Sprive also connects via Open Banking APIs to 16 major UK lenders—including high street banks and building societies—to continuously monitor mortgage rates and alert users to cheaper remortgaging deals. Following a high-profile appearance on BBC's Dragons' Den where the founders secured backing from Deborah Meaden, Peter Jones, and Touker Suleyman, Sprive turned cash-flow positive, scaling annualised consumer shopping volume through the app by 35x since January 2025 to reach £328 million. With over 567,000 registered users tracking £42 billion in outstanding mortgages, the platform has enabled £26 million in direct debt reductions and saved consumers an estimated £300 million in cumulative interest charges. Sprive will deploy this £7.7m Series A injection to scale nationwide consumer marketing campaigns, expand retail partnership integrations, and accelerate user acquisition across the UK's 8.5 million owner-occupied mortgaged households.

Investor: Two Magnolias, Channel4Ventures, Velocity Capital, Ascension VC