Sprive secures £7.5m to expand mortgage assistant platform

Borrowers looking to reduce interest and accelerate debt repayment can use a free mobile application developed by Sprive Limited. The London-based company recently closed an investment phase to expand its technology, which helps users avoid the potential £550 excess cost identified by a Financial Conduct Authority study finding that 30% of homeowners pay more than necessary when switching products.

Founded in 2019, the startup operates as an AI home loan tool that converts everyday shopping rewards into automatic overpayments. These services, which aim to prevent customers from paying off their balance into retirement, are provided as an appointed representative of Connect IFA Ltd.

The latest estimated round size of £7.5m follows a previous funding total of £2.3m recorded in 2025. Financial filings for the year ended 31 July of that period show the business had four employees, though LinkedIn data indicates a current headcount of 28. Documentation for the recent allotment of shares was processed in April 2026.