Sprive, the UK mortgage app that turns everyday spending into automatic overpayments, has raised $10 million in a Series A round and has already reached cash flow positivity.

The mechanic

Sprive's product does something conceptually simple that no bank had bothered to package: users earn cashback on ordinary purchases, and the app routes that cashback straight at their mortgage principal rather than into a current account. It also monitors the mortgage market and flags refinancing opportunities.

The appeal rests on how mortgage amortization works. An early overpayment reduces the principal on which decades of interest would otherwise compound, so small amounts applied consistently have an outsized effect on total interest paid and term length. Most borrowers understand this in the abstract and never act on it, because doing so requires a deliberate transfer every month. Sprive removes the decision.

The numbers

The company reports 567,000 registered users, £42 billion in supported mortgages, and £26 million in aggregate mortgage balance reductions. 

The commercial figures are the more striking set: revenue up 25x since January 2025, an annual run rate above £18 million, and recently achieved cash flow positivity. A fintech that is cash flow positive before its Series A is raising from a position very few consumer fintechs reach.

That combination also explains the round's structure. No lead investor was named, and the round is a mix of existing and new backers — the shape of a raise the company chose to do rather than needed to do.

The investors

Existing investors Ascension, Channel 4 Ventures and Velocity EIS Technology Fund returned. Active Partners, Wealth Club and Rank Ventures came in new.

The founders

Sprive was founded in 2019 by Jinesh Vohra, who is CEO, and Saad Hashim, both formerly of Goldman Sachs.

Where the money goes

Almost entirely into growth. "With these new funds under our belt... we are now in a strong position to step up our marketing push significantly and accelerate both customer acquisition and revenue growth," Vohra said.

That is the honest version of what this round is for. The product works, the unit economics work, and the constraint is awareness. Most UK homeowners have never heard of the company, and people don't look for mortgage products between renewal dates.

The read

Sprive's position is unusually clean: it makes money, it saves users money in a way that is easy to verify on their own statement, and it sits alongside the mortgage rather than competing with lenders for it. The structural risk is that the mechanic is not hard to copy — a bank or a large cashback platform could bolt overpayment routing onto an existing base far larger than 567,000 users. That's why the entire round is going into marketing, and why the pace of customer acquisition over the next year is the number worth tracking.

Source

The Intermediary — "Sprive raises $10m in Series A funding round"

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