Fieldfisher advises Tembo on its £14 million Series B funding round

European law firm Fieldfisher LLP advised award-winning digital savings and mortgage platform Tembo on their successful £14 million Series B funding round to help more first-time buyers save for and buy their home. The Series B 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 was co-founded by Richard Dana, Eddie Ross and Geoff Wright in October 2020 at the height of the pandemic with the mission to to increase access to home ownership for first-time buyers and people facing affordability issues. Tembo has access to over 100 lenders, 10,000 mortgage products and 25 bespoke mortgage schemes to uncover a borrower’s true affordability, including a specialist range of Income and Deposit Boost family-mortgages. Since launch, the Tembo team has grown to 85 employees. In the last twelve months the company has helped over 4,000 first time buyers to purchase their first home and 35,000 future buyers to start saving for a deposit with the Tembo Lifetime ISA.

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

Richard Dana, CEO and Founder of Tembo Money said: "We've worked with Tom and Andy since Tembo was launched and have always had impeccable service and advice from them. They act quickly, take a commercial approach and are great to work with. It is so important to have a trusted firm that understands your business and existing investors and we look forward to growing our relationship as Tembo develops."

Tom Ward, said: "Our ECVC team has had the privilege of working with Tembo Money since its early days of securing seed funding and on its Series A round, so we're delighted to see the continued success of the business and to have supported on this important Series B transaction. We're excited to see and support on the next phase of growth."

Fieldfisher's international Emerging Companies & Venture Capital team advises innovative emerging companies, investment funds and managers across the full spectrum of the venture capital and growth equity market, including both equity and venture debt financings. The team regularly advises on transactions from seed investments, bridge financings and Series A rounds through to significant growth equity investments and Exits, acting for some of the most exciting emerging technology companies in Europe and the investment funds that back them.