News Summary

UK fintech company Sprive has successfully raised $7.3 million in a funding round led by Ascension, a venture capital firm focused on impact investing. Sprive, which launched in October 2021, offers a digital platform designed to assist UK homeowners in accelerating their mortgage repayments through automation and cash-back rewards. The app enables users to divert spare cash from everyday shopping towards mortgage overpayments, potentially saving them significant amounts on interest and reducing the mortgage term. The recent funding will support Sprive’s efforts to innovate in the mortgage industry, providing lenders with a more efficient means of acquiring new customers through digital channels. Additional investors in this round included Channel 4 Ventures, Velocity Capital, and Two Magnolias.