A Bournemouth-based fintech and advice tech provider celebrating its tenth anniversary this year has secured a £16.5 million investment from BGF.

Twenty7tec says it will use the funding to further drive its significant growth and expansion within the UK.

In its first decade the business has become a key part of the UK mortgage technology landscape and a clear favourite with advisers.

Its platform streamlines the entire mortgage process, from initial product search and sourcing through to application submission and completion.

More than 16,000 mortgage, protection and wealth advisers use the Twenty7tec platform daily.

Recent investment in its CRM platform FINPLAN and digital marketing solution COMMUNICATE have significantly extended the company’s integrated solutions in both the mortgage and wealth advisory markets.

The funding from BGF will enable Twenty7tec to accelerate product development, enhance technology infrastructure and explore new market opportunities.

It will also support the company in further expanding its team of industry experts.

As part of the deal, Angela Williams has joined Twenty7tec’s board as Non-Executive Chair, following an introduction via BGF’s Talent Network.

She 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.

James Tucker, CEO of Twenty7tec, said: “Since founding the business in 2014, we have consistently strived to revolutionise how financial advisers of all types use technology to deliver exceptional advice to their clients.

“There are few tech businesses that can be said to operate successfully across the entire advice market but we have broken that mould.

“Today, we provide technology to some 16,000 advisers across the country who, in turn, look after millions of end clients across mortgages, protection and investments.

“Our journey is far from complete, however, we still see too many advisers suffering from not having access to the right tools to do their jobs and too many providers unable to access real-time data to help them understand underlying movements in market dynamics and adjust their own strategy accordingly.

“There is much more work to be done.

“After an exhaustive search, we have found the perfect investment partner in BGF, who understand our business and the market in which we operate, and are as excited by the opportunities in front of us as we are.

“I’m proud to lead the business into the next stage of its evolution.”

The deal was led by Duncan Wade, Cat Dilloway and Harry Kernick, investors in BGF’s Reading team.

Duncan, pictured left, who has also joined the Twenty7tec board, said: “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 starting-up ten 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.”