Sprive, a UK app that turns cashback from everyday shopping into mortgage overpayments, closed a £7.7m (about $10m) Series A announced on 21 September 2026.
All of its existing investors returned, including impact investor Ascension, Channel 4 Ventures and the Velocity EIS Technology Fund. New backers were consumer-focused investment firm Active Partners, Wealth Club, Rank Ventures and several angel investors with fintech backgrounds. No lead investor or valuation was disclosed.
The round takes the total Sprive has raised since launch to more than $15m, according to FinTech Global.
“Given the cost-of-living crisis, with mortgage rates going through the roof, and borrowers being pushed into extending their mortgage terms in cases well into retirement, the ability to use your weekly shop to reduce your mortgage interest, and ultimately the term of the loan, is hugely appealing. Over time these payments can really add up.”Jinesh Vohra, Founder and CEO, Sprive
What Sprive does
Sprive was founded in 2019 by Jinesh Vohra and Saad Hashim, both former Goldman Sachs bankers. Users pay for everyday shopping through the app, and the cashback they earn goes automatically towards overpaying their mortgage, which lowers interest costs and can shorten the loan. The app also tracks the mortgage market so customers can move to cheaper deals.
The company says it has 567,000 registered users and supports about £42bn (about $55bn) of mortgages. Customers have cut their combined mortgage balances by £26m (about $34m) and stand to save more than £300m (about $390m) in interest, Sprive said.
Growth since Dragons' Den
Sprive appeared on the BBC programme Dragons' Den earlier in 2026, FinTech Global and BusinessCloud reported. Since January 2025 its revenue has grown more than 25-fold, and annualised spending through the app has risen 35 times to £328m (about $426m).
The company said it recently became cash-flow positive and has an annual revenue run rate above £18m (about $23m).
Jean de Fougerolles, managing partner at Ascension, said Sprive's user base had grown tenfold since the firm invested, and that in the previous month 1.2% of UK homeowners with a mortgage had shopped through the app. He pointed to the UK's 8.5 million owner-occupied mortgages as the size of the opportunity.
De Fougerolles said a mortgage is the largest financial commitment most people make but is still managed passively, and that Sprive could eventually help people take control of other kinds of debt as well.
What the money is for
Vohra said the new money puts Sprive in a position to increase its marketing significantly and speed up both customer acquisition and revenue growth. He called closing the round in a difficult investment market a vote of confidence, noting that many earlier backers had chosen to invest again.
He linked demand for the product to the cost of living, high mortgage rates and borrowers being pushed to extend their mortgage terms, in some cases into retirement.
The funding so far
Sprive raised about £5.5m (about $7.3m) in April 2025 in a round led by Ascension, with Channel 4 Ventures, Velocity Capital and Two Magnolias taking part, Mortgage Solutions and FinTech Global reported at the time. FinTech Global later described it as a seed round.
At that stage the company planned to move beyond word-of-mouth growth with TV and streaming advertising. It was also selected that year for NatWest's first fintech growth programme.
Vinay Solanki, head of Channel 4 Ventures, said at the time that the broadcaster's investment arm saw no reason why every residential mortgage holder in the UK should not use the app.
Company website: sprive.com