London Daily

Focus on the big picture.
Saturday, Jun 21, 2025

Pension savings platform Smart secures £75m funding injection

Pension savings platform Smart secures £75m funding injection

Smart, which was founded nearly a decade ago, will announce this week that US investor Aquiline Capital Partners is leading a $95m funding round.

A retirement savings platform which previously secured backing from Legal & General will this week unveil a $95m (£76m) fundraising led by a New York-based private equity investor.

Sky News has learnt that Smart, which was founded in 2014, will announce the capital raise on Monday.

It will be led by Aquiline Capital Partners, which manages over $9bn in assets and specialises in backing financial services and technology companies.

The funding deal will be one of the largest struck by a UK-based fintech this year amid a more difficult financing environment for early-stage - often loss-making - start-ups.

Sources said the proceeds of the round would be used to finance a number of impending acquisitions.

They will also accelerate Smart's investment in and distribution of its proprietary retirement savings technology platform, Keystone.

Smart's existing investors, which include Chrysalis Investments, Fidelity International Strategic Ventures and Barclays, also participated in the round, the sources said.

The company was founded by Andrew Evans and Will Wynne, and launched in 2015 in anticipation of huge demand from companies ahead of a final Government deadline for auto-enrolment in 2018.

Smart co-founders Will Wynne and Andrew Evans


It owns and operates one of the four major UK auto-enrolment master trusts - Smart Pension - which serves more than one million savers and 70,000 employers.

Smart's growth has been fuelled in part by the growing regulatory requirement for individuals to save for retirement at the same time that ageing populations place greater pressure on government finances around the world.

As part of the funding round, Charles Janeway of Aquiline is joining Smart's board as a non-executive director.

One insider said the capital injection had taken place at only a modest discount to its most recent fundraising.

Smart has over £5.5bn in assets under management and expects this to exceed £10bn in the near future.

It has significant international ambitions, having already struck partnerships with institutions in Ireland and part of the giant Zurich Insurance Group.

In response to an enquiry from Sky News, Mr Evans and Mr Wynne claimed that Smart was "the global leader in retirement technology, and our industry-leading platform, Keystone, is being deployed by the biggest, most successful financial institutions around the world".

"This is a $62trn global sector waiting to be disrupted, and we are uniquely positioned to take advantage of that," they added.

Bankers at Lazard advised Smart on the funding round.

Newsletter

Related Articles

0:00
0:00
Close
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
×