Don't invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
- You could lose all the money you invest
- If the business you invest in fails, you are likely to lose 100% of the money you invested. Most start-up businesses fail.
- You are unlikely to be protected if something goes wrong
- Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance. Try the FSCS investment protection checker here.
- Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
- You won’t get your money back quickly
- Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early.
- The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common.
- If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.
- Don’t put all your eggs in one basket
- Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
- The value of your investment can be reduced
- The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares.
- These new shares could have additional rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment.
If you are interested in learning more about how to protect yourself, visit the FCA’s website here.
| Type: | EIS |
|---|---|
| Sector: | Fintech |
| Target return: | 12x |
| Funds raised / sought: | £5.5m sought |
| Minimum investment: | £20,203 |
| Next application deadline: | 30 Apr 2026 for final close |
Important documents
| Type: | EIS |
|---|---|
| Sector: | Fintech |
| Target return: | 12x |
| Funds raised / sought: | £5.5m sought |
| Minimum investment: | £20,203 |
| Next application deadline: | 30 Apr 2026 for final close |
Important documents
| About this deal | What to expect post-investment |
|---|---|
| This is a co-investment alongside Ascension VC, which has reviewed the opportunity. Please read the offer documents carefully. | Ascension VC will produce initial and ongoing shareholder documents. |
This overview is provided to make it easier for you to form your own view about the opportunity.
Mortgage overpayment app developed by Goldman Sachs alumni – now at £1m monthly recurring revenue
Sprive is a personal finance app which seeks to help homeowners pay off their mortgages faster and save thousands in interest by doing their everyday shopping and automating overpayments.
The problem
Total UK personal debt is approaching £1.9 trillion – with around 90% of that, £1.7 trillion, in outstanding mortgage lending.
Meanwhile, under the pressure of rising house prices and interest rates, borrowers are being offered longer mortgage terms. 50% of new mortgages have terms of 30 years or more, a substantial increase from 12% in 2005, adding many thousands of pounds in extra interest.
Overpayments are possible: they could substantially reduce the interest paid and shorten the mortgage term, but the process tends to be manual and laborious. As a result, overpaying can feel easy to deprioritise despite its significant financial impact.
Sprive’s solution
Sprive has created an app to make it easier for users to reduce debt and save thousands in interest without having to make lifestyle changes. The Company believes it is on track to save its users over £100 million in interest.
There are three main ways Sprive can help:
1. Everyday shopping rewards
Users can earn rewards when shopping with over 2,000 partner brands (including Amazon, Tesco, Asda and M&S) and turn those rewards into mortgage overpayments in one tap. The Company estimates that by paying for regular shopping with the Sprive app, you could earn an extra £25 towards your mortgage each month. In the case of a £250,000 mortgage at 4% for 30 years, this could save £7,969 and help pay off the mortgage one year and one month earlier.
2. AI-powered auto-save feature
Users can fast-track their overpayments with automated affordable monthly overpayments. After connecting to a user’s bank account via open banking, Sprive’s AI can work out spending habits and patterns and identify a “safe”, manageable monthly overpayment with no impact on lifestyle. The Company is currently able to support over 8 million homeowners across the UK’s top 14 lenders, including NatWest, HSBC and Santander.
3. Better mortgage deals
Sprive has electronic access to the key data a lender requires to underwrite a mortgage. Using this data, it can run daily calculations to challenge users’ mortgages against the market and find better deals hassle-free.
Sprive generates revenue through commission received from its 2,000+ partner shopping brands. It estimates on average it earns £150 per user annually using the Sprive Marketplace.
Furthermore, if a homeowner decides to switch to a better mortgage deal sourced by Sprive, Sprive receives commission from lenders equivalent to up to 0.35% of the outstanding mortgage loan.
In February 2026, Sprive CEO Jinesh Vohra appeared on BBC show Dragons’ Den, attracting investment from three ‘dragons’. Sprive became the UK’s most downloaded finance app and the sixth most downloaded app overall for the week following the show’s airing.
Why consider investing?
The Company appears to have achieved strong early traction, with 85,595 active shoppers and 156,426 registered monthly active users. It supports £17.9 billion mortgage value and has processed £161.8 million in total payments (March 2026).
The commercial metrics appear equally encouraging. The Company reports it grew net monthly revenues 10.7x to £428k in 2025 and believes it is on track to deliver total net revenues of £6.2 million in FY26 which ends in July. The Company recently surpassed the £1 million monthly recurring revenue (MRR) milestone (March 2026).
Sprive also reports it has been unit-profitable since June 2025 and anticipates reaching EBITDA breakeven in early 2027, forecasting net revenues of £142.2 million and EBITDA of £35.8 million in FY30 – high risk and not guaranteed.
Founders Jinesh Vohra and Saad Hashim are both Goldman Sachs alumni with deep experience in this sector.
The opportunity
Longer term, Sprive aims to help consumers with a broader range of household debts – including credit cards, student loans, and auto finance. With global household debt exceeding $26 trillion, this could represent a substantial opportunity – not guaranteed.
Currently, the Company is seeking to raise up to £5.5 million under EIS to help expand its user base, continue its progress towards profitability, enhance its technology and prepare for US expansion.
£4.5 million has already been committed or invested, including by Ascension VC, the introducer of this offer, Velocity Capital and Channel 4 Ventures. Channel 4 Ventures invests under a “Media for Equity Model”: instead of investing cash, it provides a TV advertising budget that allows brands to reach over 50 million UK consumers monthly.
Wealth Club has been offered up to £500k allocation, however capacity will be filled on a first-come, first-served basis. The minimum investment is £20,203 and you can apply online.
Ascension VC believes the investment could potentially deliver a return in the region of 12x before EIS tax relief but after fees – high risk and not guaranteed.
Please carefully read all investment documents prepared by the Company and Ascension VC to form your own view.
As can be expected when investing early stage, the potential rewards are significant, but so are the risks. You should form your own view.
Important: The information on this website is for experienced investors. It is not advice nor a research or personal recommendation to invest. If you’re unsure, please seek advice. Investments are for the long term. They are high risk and illiquid and can fall as well as rise in value, so you could get back less than you invest.
We’re thrilled to back Sprive in its mission to help homeowners take control of their finances. With mortgage debt becoming an entrenched issue, Sprive’s approach offers a tangible solution to a growing problem. Since downloading the App as part of our DD process, I’ve become a heavy user, taking money off my mortgage with every shop!
The deal at a glance
| Type | Single Company EIS |
| Stage | Later-stage EIS |
| Date started trading | 2019 |
| Funding to date | £5.9 million (including £1.5 million of ‘Media for Equity’ from Channel 4 Ventures) |
| Co-investors | Ascension VC, Velocity Capital, Channel 4 Ventures, Two Magnolias |
| Sector | FinTech |
| Fully diluted pre-money valuation | £35 million |
| Market size | $26.6 trillion household debt market opportunity |
| Business / revenue model | B2C and B2B transactional, commission based |
| Revenue FY25 (July YE) | £0.7 million |
| Forecast Revenue FY26 (July YE)* | £6.2 million |
| EBITDA positive from * | 2027 |
| Forecast revenue in 2030* | £142.2 million |
| Forecast EBITDA in 2030* | £35.8 million |
| Target return in 2030* | c.12x, based on Company’s forecasts and Co-investors’ assumptions |
* Forecast and not guaranteed.
Note: The Company is currently loss-making. Capital is at risk: you could lose your investment.
Dragons’ Den | 2026 | BBC
CEO Jinesh Vohra presenting Sprive on BBC Dragons’ Den
About the introducer of this offer, Ascension VC
Ascension VC is a London-based venture capital firm focused on backing early-stage technology companies, typically from pre-seed through Series A. Founded in 2015, Ascension invests across sectors such as fintech, healthtech, climate tech, and AI/deeptech, with an emphasis on scalable, high-growth businesses. The British Business Bank has committed up to £10 million through its Regional Angels Programme to co-invest alongside Ascension funds, strengthening the support they can provide to founders as they grow.
Ascension manages over £140 million and is ranked the third most active London VC over the past decade by Beauhurst.
Risks – important
This is a single company offer with no diversification. It involves investing in an early-stage, loss-making business, which is by nature high risk and prone to failure. There is a risk that the capital raised may not be sufficient to achieve the Company’s objectives. You could lose all the amount you invest.
Like all investments available through Wealth Club, it is only for experienced investors happy to make their own investment decisions without advice.
There is no ready market for unlisted EIS shares: they are illiquid and hard to sell and value. There will need to be an exit for you to receive a realised return on your investment. Exits are likely to take considerably longer than the three-year minimum EIS holding period; equally, an exit within three years could impact tax relief.
To claim tax relief, you will need an EIS3. Please check the deployment timescales carefully. Tax reliefs depend on company maintaining its EIS-qualifying status. Remember, tax rules can change and benefits depend on circumstances. Before you invest, please carefully read the Information Memorandum which contains further details on the considerable risks – alongside the Wealth Club Risks and Commitments.
Private offer structure and fees
Investors will subscribe directly for shares in Sprive Limited. Shares issued in this round are expected to be EIS-qualifying – not guaranteed. The share price is £2.199784, implying a pre-money valuation of approximately £35 million.
An initial charge of 3.1% will be deducted from each investment at the point of subscription. EIS tax relief will be available on the subscription amount net of the initial charge.
A deferred annual management fee of 1% (plus applicable VAT) of the subscription amount will apply from Year 4 until final liquidation. This fee will be deducted from any realisation proceeds.
A performance fee of 10% will be payable on exit. This will be calculated on net proceeds after deduction of the initial charge and deferred annual management fee. Wealth Club and Ascension will share the initial charge, annual management fee and performance fee equally (50/50).
The Company will pay a fundraising fee in connection with this round. This fee will be shared equally between Wealth Club and Ascension.
Wealth Club investors will invest using a nominee structure. This service is provided by Wealth Club’s subsidiary companies Wealth Club Asset Management Limited (authorised and regulated by the FCA) and Wealth Club Nominees Limited. Wealth Club Nominees Ltd will be completing the share subscription documentation on investors’ behalf.
Please refer to the Schedule of Charges for more details on charges (may vary for different rounds).
All the services Wealth Club and, where applicable, its subsidiaries provide are governed by the Terms and Conditions of the Wealth Club Services.
This financial promotion has been communicated and approved by Wealth Club Ltd on 17 April 2026
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.