Sprive, the UK mortgage overpayment app, has raised £7.7M ($10M) in a Series A round backed by Ascension, the Velocity EIS Technology Fund, Channel 4 Ventures, Active Partners, Wealth Club, Rank Ventures and a group of fintech angels.

For most people a mortgage is the biggest financial commitment they will ever make, yet managing it tends to be passive. Overpaying can cut the interest bill and shorten the term, but it is usually a manual process. Sprive founder and CEO Jinesh Vohra points to borrowers being pushed into longer terms, in some cases well into retirement, as mortgage rates have risen.

Sprive's app lets customers pay for everyday shopping through it, with the cashback they earn going automatically towards their mortgage. The overpayments reduce interest costs and, in some cases, shorten the loan term. The app also scans the market so customers can move to cheaper deals, and Sprive has said it earns a commission from the lender each time a customer remortgages through it.

The company says it now has 567,000 registered users and supports around £42bn of mortgages. Customers have cut their mortgage balances by £26m between them and stand to save more than £300m in interest. Revenue has grown more than 25 times since January 2025, and annualised spend through the app is up 35 times over the same period to £328m. Sprive recently turned cash flow positive, with an annual revenue run rate above £18m.

All of Sprive's main existing investors returned for the round, which follows a £5.5M raise led by Ascension in April 2025 and takes total funding to more than £10m. Vohra called the raise a "huge vote of confidence" in a tough investment market. The money will support a significantly larger marketing push to speed up customer acquisition and revenue growth. Ascension managing partner Jean de Fougerolles said 1.2% of mortgaged homeowners shopped through Sprive last month, against a UK market of 8.5 million owner-occupied mortgages. Sprive was founded in 2019 by Vohra and Saad Hashim, both former Goldman Sachs bankers.

Sources