Fieldfisher advises Tembo on £14 Million Series B funding round

The round was led by Goodwater Capital, with participation from Tembo’s existing investors, including Aviva, Ascension Ventures, Love Ventures, and McPike Family Office, bringing the company’s total funding raised to £20 million.

Tembo, co-founded by Richard Dana, Eddie Ross, and Geoff Wright in October 2020 during the pandemic, aims to increase access to homeownership for first-time buyers and those facing affordability challenges. The platform offers access to over 100 lenders, 10,000 mortgage products, and 25 bespoke mortgage schemes, such as the Income and Deposit Boost family mortgages. Tembo has helped over 4,000 first-time buyers purchase homes and 35,000 individuals start saving for a deposit with the Tembo Lifetime ISA.

The Fieldfisher team advising Tembo was led by Corporate Partner Tom Ward from the Emerging Companies and Venture Capital (ECVC) team, with support from Corporate Senior Associate Andrew Oliver and Solicitor Julija Venckute.

Richard Dana, Tembo’s CEO and Founder, commented: "We’ve worked with Tom and Andy since Tembo's launch, and they’ve always provided impeccable service and advice. Their commercial approach and quick actions are vital, and we look forward to continuing our relationship as Tembo grows."

Tom Ward expressed excitement for Tembo's continued success: "Our ECVC team has had the privilege of working with Tembo since its early seed funding, and we’re delighted to support them through this Series B transaction. We look forward to being a part of their next phase of growth."

Fieldfisher’s ECVC team regularly advises emerging companies and investment funds across various stages of venture capital and growth equity transactions, from seed investments to significant growth equity investments and exits, with a focus on innovative technology companies across Europe.