Sprive raises $10.2M Series A

Press coverage puts the round at £7.7M ($10M), slightly below the Crunchbase figures, and lists the backers. All main existing investors returned: Ascension, Channel 4 Ventures and the Velocity EIS Technology Fund. New money came from Active Partners, Wealth Club, Rank Ventures and fintech-experienced angels. Total funding now exceeds $15M, and proceeds go mainly to marketing and customer acquisition. Valuation was not disclosed. The company reports 567,000 registered users and annual revenue run rate above £18M. Annualised spend through the app rose 35-fold to £328M. Revenue comes from retail cashback and from commission when users remortgage through the app, with open banking data used to flag better rates. Users have cut their combined balances by £26M, and Sprive claims potential lifetime interest savings above £300M. It appeared on Dragons' Den this year, after a £5.5M raise in 2025. For AI founders, the profile is a consumer product that already covers its costs and is spending new capital on paid growth. Sprive describes itself as AI-driven, but its pitch rests on unit economics, not model claims. Investors in this market are likely to ask about payback on acquisition spend and the durability of user cohorts, a standard that applies to AI consumer apps as well.