Twenty7tec, a prominent mortgage technology firm, has secured £16.5m in funding from the Business Growth Fund, marking a significant milestone in its growth trajectory.
- The Bournemouth-based company aims to utilise this investment to accelerate its product development and expand its technological infrastructure.
- Funding will support Twenty7tec’s entry into new market opportunities and enhance their workforce of industry experts.
- Angela Williams, a seasoned director, joins the board as Non-Executive Chair through BGF’s Talent Network.
- This strategic move underscores the company’s commitment to providing enhanced mortgage solutions to its clientele.
Twenty7tec, a leading player in the mortgage technology sector, has recently announced a pivotal development with the acquisition of £16.5 million from the Business Growth Fund. This investment marks a significant boost for the Bournemouth-based company, which has been operational for ten years.
The capital injection is strategically aligned with Twenty7tec’s objectives of accelerating its product development roadmap and enhancing its technological infrastructure. The financial backing aims to facilitate the company’s exploration of new market opportunities, thus broadening its operational horizons.
The funding is expected to bolster Twenty7tec’s industry expertise by supporting the expansion of its team. The integration of new talent is anticipated to drive innovation and improve service delivery across the board.
In an impactful move, Angela Williams has been appointed as the Non-Executive Chair of the board. With extensive experience from her previous roles at British Airways and the Post Office, Williams is expected to bring valuable insights to the firm. Her appointment was facilitated through BGF’s Talent Network, one of the largest networks of board-level non-executives in the UK and Ireland.
James Tucker, CEO of Twenty7tec, articulated the firm’s vision following the investment, stating the importance of delivering impactful technology that benefits all participants in the mortgage market. He emphasised the firm’s growing role in ensuring that millions of customers receive appropriate advice for their financial circumstances.
Duncan Wade from BGF shared his enthusiasm, noting the high recurring revenue and low customer churn of Twenty7tec as positive indicators of future value creation.
Established in 2014, Twenty7tec has revolutionised the mortgage process, offering a platform that streamlines the entire journey from product search to application submission, impacting over 16,000 mortgage, protection, and wealth advisers daily.
The investment from BGF is set to propel Twenty7tec’s growth and expand its influence in the mortgage technology industry.
