Tembo, a digital savings and mortgage platform focused on improving access to home ownership, has raised £16 million in funding led by Gresham House Ventures, with participation from Goodwater Capital, Aviva, McPike Family Office, Love Ventures, Ascension and British Business Bank. The platform is designed to help address the United Kingdom’s homeownership affordability challenges by linking saving and borrowing in a single digital experience.
The Tembo app enables users to save towards buying a home through a range of savings products, including a Lifetime ISA, Cash ISA and Fixed Rate ISAs, making progress towards a deposit visible and easier to manage. It has also launched HomeSaver, a combined savings product that offers a savings rate of 5.24% when customers use Tembo’s free digital mortgage advice service to buy or remortgage their home, directly connecting savings with mortgage borrowing.
Once users have purchased a property, Tembo continues to support them by allowing customers to track their mortgage live in the app. This shows the best available remortgage rates both with their existing lender and across the wider market in real time. Founded in 2020, Tembo reported a breakout year in 2025, with its savings business growing tenfold and reaching £3 billion in assets under administration as more customers used the app to save, plan and buy their first home. The new funding will be used to expand its app and end-to-end homebuying platform.
