Tembo Expands Access to Housing Market with £14m Funding Boost

Tembo, a digital savings and mortgage platform, has successfully raised £14 million in a Series B funding round led by Goodwater Capital. Established in October 2020, Tembo aims to simplify home ownership for first-time buyers in the UK who struggle with affordability constraints. The company offers access to a wide range of mortgage solutions, including bespoke family-mortgage schemes designed to enhance income and deposit potential. Recently, Tembo has expanded its offerings with a savings app that helps customers save for their first property via a lifetime ISA. With a rapidly growing team of 85 employees, Tembo has assisted 4,000 first-time buyers in purchasing homes within the past year and 35,000 future buyers in saving for a deposit. The involvement of investors such as Aviva, Ascension Ventures, Love Ventures, and McPike Family Office has increased Tembo's total funding to £20 million. The investment by Goodwater will facilitate the rapid expansion of Tembo’s service offerings and strengthen its market presence as a leading provider of innovative home-buying solutions.