Twenty7tec, a UK-based mortgage technology firm, secures substantial investment for growth.
- The Business Growth Fund invests £16.5m into Twenty7tec to fuel its development.
- The funding aims to bolster product innovation and technology infrastructure.
- Former British Airways director joins as Non-Executive Chair to guide strategic direction.
- Over 16,000 advisers currently utilise the platform for mortgage solutions.
Twenty7tec, renowned for enhancing the mortgage application process, has received a £16.5 million investment from the Business Growth Fund. This significant injection of capital is poised to accelerate Twenty7tec’s product development and enhance its technological infrastructure, enabling the firm to explore new market avenues. The Bournemouth-based company aims to leverage this funding to expand its team, bringing in more industry experts to further its mission of providing superior mortgage solutions.
As part of this strategic growth initiative, Angela Williams, formerly of British Airways and the Post Office, has joined the board as a Non-Executive Chair. Her appointment comes through BGF’s Talent Network, a leading consortium of non-executive professionals. Williams’s expertise is expected to be instrumental in guiding Twenty7tec’s expansion and in navigating the complexities of the mortgage technology landscape.
James Tucker, CEO of Twenty7tec, articulates the value of this investment by stating: “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.” Tucker’s comments reflect a strong commitment to enhancing the firm’s impact on the mortgage market.
Duncan Wade, an investor at BGF, expressed confidence in Twenty7tec’s future, highlighting the company’s robust recurring revenue model and low customer attrition as promising indicators of success. Wade sees this investment as a catalyst for Twenty7tec’s value creation and growth, underscoring the exciting opportunities that lay ahead for the company.
Founded in 2014, Twenty7tec provides an integrated platform facilitating every stage of the mortgage process, from initial enquiries to application completion. Used by over 16,000 advisers, the technology underpins daily operations for mortgage, protection, and wealth experts, solidifying its role as a crucial tool in today’s financial advisory landscape.
The investment in Twenty7tec marks a pivotal step in its journey to enhance mortgage technology solutions and expand its market presence.
