Mortgage overpayment app Sprive raises £7.7m in Series A funding round
The artificial intelligence (AI)-driven app, founded in 2019 by former Goldman Sachs bankers Jinesh Vohra and Saad Hashim, Sprive, has secured £7.7m in a Series A funding round.
The app allows users to earn cashback on everyday spending and automatically use those rewards to make mortgage overpayments.
It also scans the market for remortgage opportunities, helping borrowers switch to cheaper deals.
Vohra (pictured, right) said the product had become increasingly relevant amid higher mortgage costs.
“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,” he said.
According to the company, customers have so far used the platform to reduce outstanding mortgage balances by £26m, potentially saving more than £300m in interest payments. Sprive currently has 567,000 registered users and supports around £42bn of mortgage borrowing.
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Revenue grows 25-fold
Sprive appeared on BBC programme Dragons’ Den earlier this year, following a seed funding round completed in 2025.
Since January 2025, the company said revenue has increased more than 25-fold, while annualised spending through the platform has grown 35 times to £328m. It recently became cash flow positive and reported an annual revenue run rate of more than £18m.
Jean de Fougerolles, managing partner at Ascension, said the business had demonstrated strong growth since the firm’s initial investment.
He continued: “Sprive is a great example of the businesses Ascension wants to back: technology that changes the systems we all rely on in everyday life.”
He added that mortgages remain one of consumers’ largest financial commitments, but are often managed passively.
“Sprive is changing that, starting with mortgages and ultimately giving people a much easier way to take control of debt more broadly,” he noted.
Highlighting the platform’s recent expansion, de Fougerolles said: “Since we invested, the user base has grown 10 times and, last month, 1.2% of mortgaged homeowners shopped through Sprive.”
He added that, with around eight-and-a-half million owner-occupied mortgages in the UK, there remains significant scope for further growth.
“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,” he said.
