Smart Pension, a London, UK-based auto enrolment pension provider, completed a £15m Series B funding round.
The round, which brought total funding to date to £25m and values the company at more than £65m, was led by the Stensrud family who are owners of Skagen, Norway’s largest privately owned asset manager, joined by existing investors Tom Valentine, and William Reeve.
The company intends to use the funds to continue to expand operations and to export its technology-led pension solution overseas.
Founded in 2014 by Andrew Evans, CEO, and Will Wynne, MD, Smart Pension is a MAF-accredited online auto enrolment provider. Its auto enrolment solution aims to improve the experience of hundreds of thousands of small and micro businesses that must comply with new pension legislation.
Advisers and employers can use it for free, with no upfront or ongoing charges.