Mortgage technology business Twenty7tec is gearing up for the next phase in its expansion after securing £16.5m in investment from the Business Growth Fund.
The Bournemouth-based business, which recently celebrated its tenth birthday, said the funding will enable the company to accelerate its product development roadmap, enhance its technology infrastructure, and explore new market opportunities, as well as supporting the company in further expanding its team of industry experts.
As part of the investment, former British Airways and Post Office director Angela Williams has joined the board as Non-Executive Chair, following an introduction from BGF’s Talent Network – one of the largest groups of board-level non-executives in the UK and Ireland.
James Tucker, CEO of Twenty7tec, said: “This investment from BGF allows us to continue to invest further in delivering technology that makes a real difference to all participants in this market. Ultimately, we believe it will enable us to play an increasing role in helping millions of customers continue to receive the right advice for their circumstances – an opportunity that we are excited by, and a responsibility that we take our role in very seriously.”
Duncan Wade, investor at BGF, said: “With high recurring revenue, low customer churn and a series of exciting opportunities for value creation in front of the team, we’re excited for what this investment will mean for the business.”
Founded in 2014, Twenty7tec is a platform that streamlines the entire mortgage journey, from initial product search and sourcing through to application submission and completion. Over 16,000 mortgage, protection and wealth advisers use the Twenty7tec platform daily.
