The British fintech company, a leading digital financial savings and mortgage platform, has successfully secured €16.8 million in its Collection B funding round, thus bringing its total funding to an impressive €24 million.
The round was led by Goodwater Capital, with participation from existing investors alongside Aviva, Ascension Ventures, Love Ventures, and the McPike Family Office. The investment will enable Tembo to expand its product offerings, amplify the reach of its savings app, and launch innovative mortgage solutions to address affordability issues in the UK’s housing sector.
“I’m thrilled to see our innovative approach to mobility solutions resonating with customers worldwide. At Tembo, we’re committed to empowering people to move freely and confidently, and it’s incredible to witness the impact our products are having.”
Tembo was founded in October 2020 at the height of the pandemic by Richard Dana, Eddie Ross, and Geoff Wright. Tembo aims to render homeownership more attainable for first-time buyers and those struggling with financial limitations. The platform offers access to a network of over 100 lenders, featuring more than 10,000 mortgage products and 25 tailored schemes, including its distinctive Revenue and Deposit Enhance household mortgages. With its Tembo brand, the Lifetime ISA boasts market-leading fees designed to help customers accumulate funds for their initial home purchase or other financial objectives.
Within the past year, Tembo has empowered approximately 4,000 individuals to purchase their first homes, while also facilitating the start of deposit saving journeys for a remarkable 35,000 customers. Our platform seamlessly integrates advanced knowledge with personalized suggestions, empowering customers to optimize affordability and achieve their dream of homeownership.
It’s essential to note that the company has implemented effective risk management strategies, ensuring a seamless integration of our new investment portfolio. As we continue to evolve, our commitment to transparency and regulatory compliance remains unwavering.
