Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Mortgage overpayment app Sprive raises £7.7m in Series A funding round

Sprive, an AI-driven mortgage overpayment app, has secured £7.7m in a Series A funding round. The app was founded in 2019 by former Goldman Sachs bankers Jinesh Vohra and Saad Hashim.

The platform lets users earn cashback on everyday spending and automatically put those rewards towards mortgage overpayments. It also scans the market for remortgage opportunities, helping borrowers switch to cheaper deals.

Growth and traction

According to the company, customers have so far used the platform to reduce outstanding mortgage balances by £26m, potentially saving more than £300m in interest payments. Sprive currently has 567,000 registered users and supports around £42bn of mortgage borrowing.

Sprive appeared on the BBC programme Dragons' Den earlier this year, following a seed funding round completed in 2025. Since January 2025, the company said revenue has increased more than 25-fold, while annualised spending through the platform has grown 35 times to £328m. It recently became cash flow positive and reported an annual revenue run rate of more than £18m.

Investor commentary

Jean de Fougerolles, managing partner at Ascension, said the business had demonstrated strong growth since the firm's initial investment. He noted that since Ascension invested, the user base has grown 10 times and, last month, 1.2% of mortgaged homeowners shopped through Sprive.

He added that, with around eight-and-a-half million owner-occupied mortgages in the UK, there remains significant scope for further growth.

Why it matters for the rental and property sector

While Sprive is aimed at owner-occupiers rather than tenants or landlords, the app's growth reflects wider pressure on borrowers amid higher mortgage costs. That pressure shapes landlord financing decisions, remortgaging activity and, ultimately, the rental market that letting agents and inventory clerks operate in.

Vohra said the product had become increasingly relevant amid higher mortgage costs, pointing to borrowers being pushed into extending their mortgage terms in cases well into retirement, and describing the ability to use everyday spending to reduce mortgage interest and loan terms as hugely appealing.