A B2B fintech provider Twenty7tec has secured £16.5 million investment from BGF, one of the largest and most experienced investors in the UK and Ireland. The investor recently backed Gaussion and Sunswap.
The deal was led by Duncan Wade, Cat Dilloway and Harry Kernick investors in BGF’s Reading team.
Funds utilisation
With this investment, the startup plans to further drive significant growth and expansion within the UK. It will enable Twenty7Tec to accelerate its product development roadmap, enhance its technology infrastructure, and explore new market opportunities. The investment will also support the company in further expanding its team of industry experts, to deliver exceptional service and innovation to its growing customer base.
James Tucker, CEO of Twenty7tec, said “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. Ultimately, we believe it will enable us to play an increasing role in helping millions of customers continue to receive the right advice for their circumstances – an opportunity that we are excited by, and a responsibility that we take our role in very seriously.”
Appoints new board members
As part of the investment, Angela Williams has also joined the board, as Non-Executive Chair, following an introduction from BGF’s Talent Network – one of the largest groups of board-level non-executives in the UK and Ireland. In addition, Duncan, a BGF investor has also joined the Twenty7tec board.
Angela brings a wealth of experience in founding, scaling, and exiting other tech-focused businesses, with senior executive roles for companies such as British Airways, Centrica PLC and Land Securities PLC. Angela will support the team in refining and executing its growth strategy.
Tucker continued: It’s a hugely exciting time for everyone associated with Twenty7tec, and we’re very pleased to have the support of Angela in the role of Non-Executive Chair and look forward to benefiting from her wealth of experience in helping businesses to scale. I’m proud to lead the business into the next stage of its evolution.”
Duncan Wade added, “Twenty7tec’s track record of disrupting the advice technology market, combined with its ability to effectively scale is testament to the hard work and tenacity of James and his team. With high recurring revenue, low customer churn and a series of exciting opportunities for value creation in front of the team, we’re excited for what this investment will mean for the business. The impressive growth that Twenty7tec has already achieved since start-up 10 years ago, has been underpinned by a team who are passionate about delivering the best possible outcome for users of their technology. We are genuinely thrilled to be backing them and have high hopes for the company’s future.”
Disrupts UK mortgage landscape
Founded in Bournemouth in 2014 by James Tucker, Twenty7tec has become a cornerstone of the UK mortgage technology landscape and is a growing favourite for advisers in the wealth space.
The platform streamlines the entire mortgage journey from initial product search and sourcing through to application submission and completion.
Currently, over 16,000 mortgage, protection and wealth advisers use the Twenty7tec platform daily, thanks to its efficient and accurate data to deliver customer excellence and navigate the complex regulatory environment.
