Tembo, a digital savings and mortgage platform, has raised £16 million in growth investment to accelerate its mission to help tackle the homeownership affordability crisis.

The round was led by new investor Gresham House Ventures, alongside existing investors Goodwater Capital, Aviva Investors, McPike Family Office, Love Ventures, Ascension and new participation from the British Business Bank via Ascension.

The funding follows a breakout year for Tembo. During 2025, its savings business grew 10x, reaching £3bn in assets under administration, as more customers used the Tembo app to save, plan and buy their first home. The funds will be used to expand its app and end-to-end homebuying platform.