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Chrysalis Investments makes £75m investment in leading retirement technology platform provider


Chrysalis Investments (CHRY) announced an investment of £75m in Smart Pension. The investment forms part of a £165m series D funding round and includes £110m of newly issued primary capital and £55m of secondary equity acquired from existing shareholders of Smart Pension. CHRY is providing primary capital and says that it will join a pool of well-established investors in Smart Pension, including Legal & General, J.P. Morgan, the Link Group, Barclays and Natixis.

CHRY’s investment will help Smart Pension to grow its retirement technology platform offering in the UK, the US, Australia and the Middle East, with additional territories to follow.

Richard Watts and Nick Williamson, co-managers of CHRY noted that “Smart Pension is an innovator and is building its position 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.

The world has changed. Just as companies like Wise and Klarna add huge benefits to their users via best-in-class financial technology, Smart Pension offers user experience and technology to transform retirement for savers around the world. What Smart Pension has achieved in the last 12 months alone was a real catalyst for our support.”

About Smart Pension

CHRY notes that “Smart is a global savings and investments technology platform provider and was founded in 2014 by Andrew Evans and Will Wynne. Its mission is to transform retirement, savings and financial well-being around the world.

Smart partners with governments and financial institutions (including insurers, asset managers, banks, financial advisers) to deliver retirement savings and income solutions that are digital, bespoke and cost efficient. Smart’s focus is on the workplace pension market, and it helps employers to offer, typically government-mandated, pensions schemes in an efficient manner to their employees. In the UK, it operates one of the biggest master trusts. Smart’s technology also helps employees effectively and easily manage their pension pot via an app.

In addition to the UK, Smart is operating in the USA, Europe, Australia and the Middle East with close to a million savers entrusting over £1.7 billion in assets on the platform. Smart supports its clients with a 550 strong global team and saw 160% growth in assets on its technology platform in 2020.”

CHRY: Chrysalis Investments makes £75m investment in leading retirement technology platform provider

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