Following this announcement, the funds will be leveraged in order to help Tembo expand its suite of solutions, scale its savings application, and introduce new mortgage schemes that will address affordability challenges in the UK housing market. The investment brings Tembo’s total funding to EUR 24 million.
The round was led by Goodwater Capital, with participation from existing investors including Aviva, Ascension Ventures, Love Ventures, and McPike Family Office. In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Throughout this investment, Tembo aims to make homeownership more accessible for first-time buyers and those who are currently facing financial constraints. The platform offers access to over 100 lenders, 10,000 mortgage products, and 25 bespoke schemes, including its Income and Deposit Boost family mortgages. According to officials of the company, their Lifetime ISA will also provide market-leading rates to help customers save for their first property or other financial goals.
At the same time, Tembo’s platform will continue to combine optimised and secure technology with tailored advice, aiming to empower users to maximise affordability and realise their homeownership goals. Goodwater’s support will enable the company to rapidly expand its savings platform, while also launching competitive products that will enable customers to save and invest more as they build their deposits. Furthermore, the firm also has plans to further solidify its positioning in the market as the go-to player for finding a way for borrowers.
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