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HomeFundingUK pensions fintech Smart lands $95m Series E funding

UK pensions fintech Smart lands $95m Series E funding

Date:

UK-based retirement savings fintech Smart has raised $95 million in a Series E funding round led by Aquiline Capital Partners. The company plans to expand globally, pursue acquisitions, and invest in its Keystone platform.

Facts

  • UK-based retirement savings fintech Smart has raised $95 million in a Series E funding round.
  • Aquiline Capital Partners led the funding round, with participation from existing backers Chrysalis Investments, Fidelity International Strategic Ventures, DWS, Barclays, and Natixis Investment Managers.
  • Smart Pension, a business of Smart established in 2014, serves over one million customers and 70,000 employers.
  • Smart claims to have over £5.5 billion in assets under management and expects to reach £10 billion by the end of June this year.
  • Smart’s proprietary infrastructure tech, called Keystone, powers its Smart Pension offering and is claimed to be the world’s first global cloud-native workplace retirement savings platform.
  • Smart plans to expand globally, having already made successful forays into Europe, the US, the Middle East, and Africa.
  • The funding will be used to complete “near-term” acquisitions and further invest in the Keystone platform.

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