- Smart just landed $95 million in funding for its savings and investment platform.
- The Series E funding brings Smart’s total raised to $391 million.
- Today’s investment will fuel the company’s global expansion and boost its retirement savings platform, Keystone.
Global savings and investment platform Smart has raked in $95 million in a Series E round this week. The London-based company’s total funding now sits at $391 million.
Aquiline Capital Partners led the round, followed by existing investors Chrysalis Investments, Fidelity International Strategic Ventures, DWS, Barclays, and Natixis Investment Managers.
Smart, which currently operates in Europe, the U.S., the Middle East, and Asia, will use today’s investment to further fuel its global expansion. The funding round will also help finance acquisitions and boost its retirement savings technology platform, Keystone.
Andrew Evans and Will Wynne co-founded Smart in 2014 after the U.K. launched its workplace pension auto enrollment requirement. The company serves more than one million end users and 70,000 employers. Smart’s flagship product, Keystone, is a retirement platform-as-a-service that offers companies infrastructure to offer employees digital retirement savings tools.
“Smart’s distinct retirement technology leadership coupled with Aquiline’s deep experience in the retirement technology industry makes this a compelling investment, as does the growing global need for better retirement saving technology,” said Aquiline Chairman and CEO Jeff Greenberg. “Smart has consistently delivered impressive commercial growth, and is backed by an array of top-tier investors whom we are delighted to join. Under the leadership of Andrew and Will, we have every confidence that Smart is a multi-billion pound company in the making.”
Based on the company’s growth, it is apparent that Smart has struck a nerve with its global user base. The company saw revenues top $83 million £67 million last year, which was a 65% increase over 2021. Earlier this year, The Financial Times ranked Smart among Europe’s fastest-growing companies. Smart currently has over $6.9 billion (£5.5 billion) in assets under management on its platform and expects to exceed $12.5 billion (£10 billion) by the end of next month.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Minting the Future w Adryenn Ashley. Access Here.
- Buy and Sell Shares in PRE-IPO Companies with PREIPO®. Access Here.
- Source: https://finovate.com/smart-raises-95-million-for-retirement-technology/
