London based digital-mortgage business raised £5m in new funding led by Lone Ventures and Harold McPike.
“Owning a home is still a dream and aspiration for so many people but the existing market is not set up to help those who are unable to save a deposit or meet affordability on a standard mortgage. Over 80% of the customers that we have helped to date have been turned down by a lender or mortgage broker before they reach us. Many customers who would otherwise be trapped in a rental cycle without the support of our products end up paying less money each month for their mortgage than they do for their rent.”
https://www.finextra.com/newsarticle/42221/london-mortgage-broker-tembo-raises-5-million