Series D+28 June 2021

Smart raises £165m in Series D funding led by Chrysalis Investments to expand its global retirement platform.

Chrysalis Investments provided £75m of the total Series D financing, which comprises primary and secondary equity.

£165MSeries D+

Smart provides a global retirement technology platform that powers workplace pensions and partners with major financial institutions internationally. Its technology serves close to a million savers.

Smart has secured £165m in a Series D funding round led by Chrysalis Investments, with additional participants expected to be named in coming weeks. The financing comprises £110m in primary equity alongside £55m in secondary shares. The capital will support the ongoing expansion of Smart across key international retirement markets and strengthen its platform capabilities.

The round follows a period of rapid expansion for the business during 2020, which saw assets on its technology platform grow by over 160% to reach £1.8bn. Existing backers in the company include Legal & General, J.P. Morgan, the Link Group, Barclays and Natixis Investment Managers.

From the founder

"Chrysalis Investments joins us at a really exciting time. Smart's achievements over the last 12 months are testament to our amazing team, and also to the incredible resilience of both our operating model and the Smart platform that we deploy for large financial institutions and national governments. With close to a million savers on our platform already, we now have straight line visibility through to well over five million savers on the platform within the next 24 months."

Andrew Evans

Co-founder at Smart

Investor perspective

"Smart is an innovator and continues to establish itself as the leading retirement technology platform provider globally. In just a few years it has disrupted the retirement savings industry, working with some of the world's most well-known financial services providers to create a better way to save toward retirement and access funds during retirement."

Richard Watts

Portfolio Manager, Chrysalis Investments