BGF Investment Fuels Twenty7tec’s UK Expansion And Acquisition Plans

Mortgage technology company Twenty7tec has secured £16.5 million from the Business Growth Fund (BGF) to support its growth and expansion in the UK. Established in 2014 and based in Bournemouth, Twenty7tec’s platform simplifies the entire mortgage process, from finding and selecting products to submitting applications and completing them.

More than 16,000 mortgage, wealth, and protection advisers use the Twenty7tec platform every day, providing clients with real-time data and assisting them in navigating regulatory requirements.

Twenty7tec Seeks To Provide More Useful Tools To Advisers And Providers

James Tucker, the Chief Executive Officer of Twenty7tec, stated that BGF’s investment will help improve technology infrastructure, speed up product development, and find new market and acquisition opportunities.

Last year, the company acquired two businesses: the digital engagement tool Meet Parker and the mortgage affordability platform Broker Sense.

Tucker noted that only a handful of tech companies can work successfully across the whole advice sector, but the company has achieved that. He said with the support of BGF, the firm will quickly improve the skills of the team, invest in its products, and look for more growth opportunities that fit well with the business.

Angela Williams has been added to the board as Non-Executive Chair after being introduced by BGF’s Talent Network, thanks to the investment. Angela has a lot of experience establishing, growing, and exiting tech-focused companies, with senior roles at British Airways, Land Securities PLC, and Centrica PLC. She will help the team refine and carry out its growth plans.

Tucker asserted that the company still has a long way to go. Many advisers lack the right tools to do their jobs, and many providers cannot access real-time data to understand market changes and adjust their strategies. He added that there is still a lot of work to do and the firm will strive to solve these problems.

The Investment Will Help The Firm Develop Impactful Technology

Tucker further stressed that this BGF investment will help the team continue to develop technology that makes a real impact in the market. The company believes the funding will help it play a bigger role in providing the right advice to millions of customers, a challenge the team is excited about and takes seriously, Tucker said.

The investment was spearheaded by Cat Dilloway, Duncan Wade, and Harry Kernick from BGF’s Reading team, and Duncan has joined the Twenty7tec board.

Duncan Wade noted, that Twenty7tec’s success in shaking the advice technology industry and its ability to scale effectively show the hard work and dedication of James and his team.

He added that with low customer turnover, steady revenue, and exciting opportunities ahead, the team is excited about what this financing means for the company. Duncan further noted that the remarkable progress that Twenty7tec has made over the past 10 years is thanks to a team committed to delivering the best results for users.