Dragons’ favourite cashback app raises $10 million

By the Editorial Team · Monday, September 21, 2026

UK fintech Sprive raised $10 million in Series A funding to expand its app that helps homeowners reduce mortgage costs through cashback on everyday spending and monitoring better mortgage deals. With over 567,000 users and £42 billion in supported mortgages, the app has saved customers more than £300 million in interest, positioning Sprive for accelerated growth amid rising mortgage rates and living costs.

Sprive, a UK-based fintech company focused on helping homeowners reduce their mortgage costs, has secured $10 million in a Series A funding round. Founded in 2019 by two former Goldman Sachs bankers, the app offers cashback on everyday spending at retailers including Tesco, Sainsbury’s, and Waitrose through digital gift cards, with the cashback funds automatically applied to users’ mortgage balances. The platform also monitors mortgage rates and alerts customers when it is advantageous to switch to cheaper deals.

The app connects to 16 lenders across the UK, encompassing all major high street banks and building societies. Since January 2025, Sprive has seen significant growth, with annualized monthly spending through the app increasing 35-fold to £328 million. The service currently boasts 567,000 registered users and supports mortgages totaling approximately £42 billion. The company estimates that it has saved its users over £300 million in interest payments to date.

Sprive recently achieved cashflow positivity and reports an annual revenue run rate exceeding £18 million. The latest funding round included participation from existing investors Channel 4 Ventures and Ascension, as well as new investors Wealth Club, Active Partners, and Rank Ventures. This round brings Sprive’s total funding to $15 million.

Jinesh Vohra, co-founder and chief executive of Sprive, said the new capital positions the company to intensify its marketing efforts and accelerate both customer acquisition and revenue growth. He highlighted the app’s appeal amid increasing mortgage rates and the cost of living crisis, noting that many borrowers are compelled to extend their mortgage terms, sometimes into retirement. “The ability to use your weekly shop to reduce your mortgage interest, and ultimately the term of the loan, is hugely appealing,” Vohra said, adding that these incremental payments can accumulate significantly over time.

Sprive gained additional visibility after Vohra appeared on the BBC program Dragons’ Den in February, where he secured investment from Dragons Touker Suleyman, Deborah Meaden, and Peter Jones. Together, they invested £50,000 in exchange for a combined 5 percent equity stake in the company.

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