Sprive Closes $10M Series A for Cashback Mortgage Overpayment App
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Sprive has closed a $10 million (£7.7 million) Series A round to fund its next stage of growth. The London company runs an AI-driven consumer FinTech app. It helps homeowners across the UK pay down their mortgages faster using money they already spend.
Every one of Sprive’s existing investors came back for this round, including impact investor Ascension, broadcaster-owned Channel 4 Ventures and the Velocity EIS Technology Fund. New backers include consumer-focused investment firm Active Partners, Wealth Club, Rank Ventures and several angel investors with deep FinTech experience. Sprive has now raised more than $15 million since launch.
Jinesh Vohra and Saad Hashim, two former Goldman Sachs bankers, founded the company in 2019. The app lets users direct cashback earned on everyday shopping toward automatic mortgage overpayments. That lowers interest costs and, in some cases, shortens the life of the loan. Sprive also watches the mortgage market so customers can find and switch to cheaper deals.
So far, Sprive customers have reduced their combined mortgage balances by £26 million and are on track to save more than £300 million in interest. The app has 567,000 registered users and supports roughly £42 billion worth of mortgages.
Sprive appeared on the BBC’s Dragons’ Den earlier this year, shortly after closing a seed round in 2025. Since January 2025, revenue has grown more than 25-fold, and annualised spend running through the app has climbed 35 times to £328 million. The business is now cash flow positive, with an annual revenue run rate above £18 million.
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