One of London’s leading PR agencies, The PHA Group, has been tasked with building awareness of Tembo among potential first time buyers and their families, as well as mortgage lenders and IFAs more broadly, demonstrating how the company is getting people onto the property ladder with its Deposit Boost and Income Boost products. The PHA Group will also raise CEO and co-founder, Richard Dana’s profile in media too, sharing his expertise and emphasising the company’s mission to turn the tide on the generational wealth gap and tackle the poverty premium.
Having officially launched in June 2021, Tembo’s product offering comprises a range of specialist mortgages from leading lenders in the UK which allow first-time buyers to lean on loved ones to help them climb onto the property ladder without requiring their families to have a cash lump sum.
Deposit Boosts work by allowing a willing family member to unlock money from their existing property, using that capital to top up the first-time buyer’s deposit or create one from scratch. Income Boosts work by allowing a family member to allocate some of their income to the homebuyer’s mortgage application in order to increase their borrowing potential.
The company recently announced a £2.5 million fundraise led by investors including Aviva and Fair by Design – the venture fund managed by Ascension Ventures which in turn is backed by Nationwide, Big Society Capital and Joseph Rowntree. The capital is helping to optimise Tembo’s technology and drive the expansion of Tembo’s offering as it continues on its mission to address the ‘poverty premium’ and help millions of prospective homeowners buy their first property sooner.
The PHA Group was appointed after the team impressed Tembo with its strong proptech and fintech credentials.
Richard Dana, CEO and co-founder at Tembo, said: “First time buyers face major obstacles in achieving home ownership, to the point that many see it as entirely unachievable. Tembo is changing this mindset and turning the tide on the generational wealth gap, by helping families work together to give first-time buyers a fast, affordable way to increase their deposit. Having recently closed new funding and following our official press launch in June, now is the perfect time to continue our momentum in raising awareness by working with The PHA Group. The agency team showed strong experience in our space during the pitch process, and have already got off to a strong start. We look forward to working with them further and helping more find out how they can get onto the property ladder with Tembo.”
Ben Cossor, Head of Technology at The PHA Group, commented: “With so many people struggling to buy their first home, it’s so refreshing to find and support a business like Tembo that is helping to give people a better chance at getting onto the property ladder. The team have a fantastic mission behind them and already have an impressive amount of success stories. We’re looking forward to supporting their growth.”
About The PHA Group
Established in 2005, London-based PR Agency The PHA Group is one of PR Week’s Top 15 Independent PR Agencies. Founded by Phil Hall, the former editor of the world’s bestselling newspaper and head of the Trinity Mirror Group. The agency has an expansive list of services which include Consumer PR, Sport & Fitness PR, B2B PR, Technology PR, Third Sector PR, Influencer Marketing, Healthcare PR, Crisis & Reputation Management, Social Media and Personal PR. www.thephagroup.com
Tembo is a London based FinTech on a mission to transform consumer lending through the power of family. Starting with homeownership, it arranges and advises on a range of innovative family and later life mortgages which help first-time buyers get on the ladder faster and for less. Over 70% of its users to date wouldn’t have been able to buy without these products and on average they have saved £14,000 in interest charges. The brainchild of finance and technology expert Richard Dana, Tembo is backed by some of the UK’s leading financial brands including Aviva and Nationwide.