Twenty7tec has landed £16.5m of investment from UK investment fund BGF to drive expansion.

The Bournemouth-based mortgage platform, founded in 2014, says it will use the cash to accelerate product development, upgrade its technology, boost staff and “explore new market opportunities”.

As part of the deal, Angela Williams joins the platform as non-executive chair “to refine and execute its growth strategy”.

The fintech firm says Williams has “a wealth of experience in founding, scaling, and exiting other tech-focused businesses” and has also held senior roles at British Airways, Centrica and Land Securities.

BGF investor Duncan Wade, who worked as a director of development as well as mergers and acquisitions for EY for almost 12 years, also joins the platform’s board.

Recent Twenty7tec investment in its customer relationship management platform FINPLAN and digital marketing software, COMMUNICATE, has extended the company’s reach in the mortgage and wealth advisory markets.

The firm’s services are used by over 16,000 mortgage, protection and wealth advisers a day.

BGF was founded in 2011 by Barclays, HSBC, Lloyds Banking Group, NatWest and Standard Chartered to invest in small and mid-sized businesses.

It has a £3bn balance sheet and has invested in over 600 firms, including Brompton, Gousto and Kids Planet.

Twenty7tec chief executive James Tucker says: “With BGF as our partner, we will move quickly to further enhance the talent within our business, invest in our products, and continue to seek opportunities for inorganic growth that are complementary to our existing business.”

Wade adds: “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.”