Twenty7tec has secured £16.5 million from the Business Growth Fund, enabling strategic expansion.
- The funding will accelerate Twenty7tec’s product development and enhance its technological infrastructure.
- Former British Airways and Post Office director, Angela Williams, joins the board as Non-Executive Chair.
- The investment reflects strong market potential with high recurring revenue and low customer turnover.
- Twenty7tec serves over 16,000 advisers daily, streamlining the mortgage process.
Twenty7tec, a prominent player in the mortgage technology sector, has announced a significant investment of £16.5 million from the Business Growth Fund. This move marks a pivotal moment for the Bournemouth-based company, which is preparing for a new phase of expansion following its decade-long establishment.
The substantial investment is strategically planned to accelerate the development of Twenty7tec’s product roadmap, bolster its technology infrastructure, and allow for exploration into new market opportunities. This development is also set to enable the firm to expand its team with more industry experts, thereby enhancing its competitive edge.
Highlighting the importance of this funding, CEO James Tucker emphasized that the partnership with BGF empowers the company to continue delivering impactful technology. “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,” said Tucker. He further stated that the company is keen on its role in aiding millions of customers to receive appropriate advice tailored to their unique circumstances.
As part of this strategic alignment, Angela Williams has been introduced to the board as Non-Executive Chair. Her appointment comes via BGF’s Talent Network, one of the largest groups of board-level non-executives in the UK and Ireland, showcasing the firm’s commitment to leadership excellence.
Reflecting on the potential for value creation, BGF’s investor, Duncan Wade, noted the promising growth trajectory of Twenty7tec. The company is characterized by high recurring revenue and minimal customer churn, signaling a robust foundation for future advancements in the financial technology landscape.
Founded in 2014, Twenty7tec has made significant strides in reshaping the mortgage journey by simplifying the process from product search and sourcing through to application submission and completion. The platform has become an integral tool for over 16,000 mortgage, protection, and wealth advisers who utilize it daily.
Twenty7tec’s recent investment marks a strategic milestone, positioning it for significant growth and innovation in the mortgage technology industry.
