Penfold, a virtual pensions platform, has closed a £7m ($8.49m) Collection A investment spherical led via Bridford Crew, an funding workforce.
Additionally collaborating within the spherical used to be Jeremy Coller, Leader Funding Officer and Chairman of Coller Capital. Penfold additionally raised further investment by the use of a crowdfund among its buyer base. The money shall be used to make bigger Penfold’s office pension department.
Chris Eastwood, Co-Founder at Penfold, commented (in a observation): “It’s been a large yr for Penfold – from launching our office pension providing, to attaining £100m AUA.”
Bridford Crew, lead investor, commented: “The pensions business represents an enormous marketplace – with £8trn in financial savings in the United Kingdom by myself. Regardless of this, many of us stay bored stiff and unengaged of their pensions. With such a lot of other folks now not saving sufficient, there’s an actual alternative for a brand new supplier to step in.”