Smart Pension raises funding from J.P. Morgan to support international expansion
J.P. Morgan has taken a minority equity stake in the workplace pensions provider as part of a strategic placement round.
Smart Pension operates a global savings technology platform and ranks as one of the largest workplace pension providers in the United Kingdom. Founded in 2014, the firm delivers digital pension services backed by independent professional trustees.
Smart Pension has secured a strategic minority investment from J.P. Morgan, forming part of a new strategic placement funding round. The latest transaction brings the total capital raised by the workplace pensions provider to roughly £50m as it scales its operations internationally.
Established in the UK market, the company provides savings platform technology and acts as a major workplace pension provider. The fresh capital arrives as the firm expands its footprint overseas, following an international tender win in October to deliver a pensions platform for New Ireland Assurance.
Alongside the investment, Anne Lester of J.P. Morgan Asset Management will join the Smart board as a non-executive director. The company intends to use its proprietary technology to target further global opportunities amid shifting regulatory demands across financial institutions.
From the founder
"We are delighted to have secured this investment from J.P. Morgan, as it signifies a positive step in our growth and international reach. From the outset our objective has been to put user engagement and experience at the heart of everything we do, utilising technology to build an unrivalled platform. Our journey has just started, the opportunities to disrupt and do things differently in this sector are staggering, and we will be leading the way."
Andrew Evans
Co-founder and CEO at Smart Pension
Investor perspective
"We are investing in pensions and savings solutions and technology capabilities to help investors achieve better financial outcomes, reinforcing our commitment to putting clients first in every aspect of our business. Smart Pension has demonstrated how financial technology can have a positive impact by making it easier both for people to save for retirement and for companies to offer pension plans to their employees."
Anne Lester
Global Head of Retirement Solutions, J.P. Morgan
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Smart Pension
Smart Pension provides a global savings technology platform and workplace pensions.