Sprive Raises $10m Series a to Accelerate UK Mortgage App Growth
The UK mortgage app secured $10m in new funding after customers reduced their total debt balances by £26m.
Key points
- Sprive raised $10m in a Series A round, bringing total funding to over $15m.
- Customers have reduced their combined mortgage balances by £26m using the platform.
- Revenue grew twenty-five fold since January 2025, reaching an annual run rate of £18m.
Sprive closed a $10m Series A round to expand its UK mortgage repayment platform. The new capital brings total funding since launch to over $15m for the 2019 startup.
Existing backers including Ascension and Channel 4 Ventures participated in the deal. New investors such as Active Partners and Rank Ventures joined the financing structure.
Customer metrics show strong growth
Five hundred and sixty-seven thousand users now rely on the app for debt management. These customers have collectively reduced their mortgage balances by £26m to date.
The platform supports approximately £42bn in active mortgage debt across the UK market. Users stand to save more than £300m in interest costs over time.
Revenue tripled in recent months
Sprive revenue grew twenty-five fold since January 2025 according to company data. Annualised spend processed through the system reached £328m during this period.
The business turned cash flow positive with an annual revenue run rate above £18m. This financial milestone supports the planned acceleration in customer acquisition efforts.
Market opportunity remains substantial
Ascension notes that one percent of mortgaged homeowners currently shop via Sprive. With 8.5 million owner-occupied mortgages in the UK, the addressable market is large.
The app allows users to apply cashback from everyday purchases to mortgage overpayments. This mechanism reduces interest accrual and can shorten the total loan duration.
