Mortgage tech firm Twenty7tec plots UK expansion and acquisitions with £16.5m BGF investment
Mortgage technology provider Twenty7tec is preparing to trigger “significant growth and expansion within the UK” having secured a fresh £16.5 million investment from the Business Growth Fund (BGF).
Twenty7tec bags £16.5 million investment from BFG
The Bournemouth-based fintech says it plans to use the funds to “accelerate its product development roadmap, enhance its technology infrastructure, and explore new market opportunities” alongside an expanded team.
BFG has leveraged its talent network to install Angela Williams, who held senior executive roles at Post Office, British Airways, Centrica, and Land Securities, as Twenty7tec’s new non-executive chair.
She joins the board alongside BGF investor Duncan Wade, who is also coming on as a non-executive director after leading the fundraising effort with fellow BGF investors Cat Dilloway and Harry Kernick.
Meanwhile, Tony Prestedge, James Gray, and Jeremy Duckworth resigned from their director positions, according to the Companies House.
Founded in 2014 by CEO James Tucker, Twenty7tec operates a B2B platform which it claims “streamlines the entire mortgage journey” for over 16,000 mortgage, protection and wealth advisers, from product sourcing and comparison, to application management and mortgage delivery.
The platform is accompanied by the practice management and CRM solution FINPLAN, and the digital marketing solution COMMUNICATE. Twenty7tec says recent investments in these products have “significantly extended the company’s integrated solutions in both the mortgage and wealth advisory markets”.
Tucker says the investment will enable Twenty7tec to “invest further in delivering technology that makes a real difference to all participants in this market” and “seek opportunities for inorganic growth that are complementary to our existing business”. Last year, the firm made two acquisitions – mortgage affordability platform Broker Sense and digital engagement tool Meet Parker.
