Tembo to raise £2.5M from Aviva and Fair by Design.

Tembo, a London, UK-based startup selling mortgage products, announced the completion of a £2.5M ($3.5M) capital funding round.

The money was raised from investors led by Aviva and Fair by Design, and joined by Bloom Venture Partners and Ascension Ventures.

Tembo, founded in 2020 by Eddie Ross and CEO Richard Dana, is an operator of online residential mortgage loans platform aiming to help first-time homebuyers, addressing the ‘poverty premium' segment. Tembo’s product offering comprises a range of specialist mortgages from leading lenders in the UK. These allow first-time buyers to lean on loved ones and help them climb onto the property ladder, without requiring their families to have a cash lump sum.