A BOURNEMOUTH-BASED business has secured a £16.5m investment from a nationwide investor.
Leading B2B fintech provider Twenty7tec has said BGF’s donation will help “further drive significant growth and expansion within the UK”.
Twenty7tec’s platform streamlines the entire mortgage journey, from initial product search and sourcing through to application submission and completion.
More than 16,000 mortgage, protection and wealth advisers use the Twenty7tec platform daily.
BGF’s investment will enable Twenty7Tec to accelerate its product development roadmap, enhance its technology infrastructure and explore new market opportunities.
Funding will also support the company in further expanding its team of industry experts, ensuring it continues to deliver “exceptional service and innovation” to its growing customer base.
As part of the investment, Angela Williams has also joined the board, as non-executive chair, following an introduction from BGF’s Talent Network.
She brings a wealth of experience in founding, scaling and exiting other tech-focused businesses, with senior executive roles for companies such as British Airways, Centrica PLC and Land Securities PLC.
James Tucker, chief executive 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.
“After an exhaustive search, we have found the perfect investment partner in BGF, who understand our business and the market in which we operate, and are as excited by the opportunities in front of us as we are.
The deal was led by Duncan Wade, Cat Dilloway and Harry Kernick investors in BGF’s Reading team, with Duncan also joining the Twenty7tec board.
Mr Wade added: “Twenty7tec’s track record of disrupting the advice technology market, combined with its ability to effectively scale is testament to the hard work and tenacity of James and his team.
“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.
“The impressive growth that Twenty7tec has already achieved since start-up 10 years ago, has been underpinned by a team who are passionate about delivering the best.”
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