Tembo raises £14 million

London-based digital savings and mortgage platform Tembo Money has raised £14 million in Series B funding led by Goodwater Capital, with participation from Aviva Ventures, Ascension Ventures, Love Ventures, and McPike Family Office.

Founded in 2020, Tembo claims to have access to over 100 lenders and in the last twelve months it helped over 4,000 first time buyers to purchase a home and 35,000 future buyers to start saving for a deposit with the Tembo Lifetime ISA.

The startup also helps consumers shop for life, income, and critical illness insurance.

“Goodwater Capital is thrilled to support Tembo’s exceptional team, whose innovation is transforming access to home ownership in the UK. By combining cutting-edge technology with customer-focused solutions, Tembo has rapidly grown to help thousands of first-time buyers achieve what once seemed impossible. We’re proud to partner with such a fast-scaling business as they continue to lead in bringing affordability and opportunity to the housing market.” – Edward Robinson, Partner at Goodwater Capital.