Will Wynne (Co-Founder &MD) and Andrew Evans (Co- Founder & CEO), Smart Pension

Smart Pension, the technology innovator and UK workplace pensions provider, has announced that J.P. Morgan, the investment bank and financial services provider, has acquired a minority equity stake in the firm as part of Smart Pension’s new strategic placement funding round. This brings the total funds raised to date to £50 million.

The company previously made news by winning an international competitive tender to deliver a pensions technology platform for New Ireland Assurance, an Ireland based life insurance, pensions and investment businesses.

Andrew Evans, Smart Pension co-founder and CEO, said: “We are delighted to have secured this investment from J.P. Morgan, as it signifies a positive step in our growth and international reach. From the outset our objective has been to put user engagement and experience at the heart of everything we do, utilizing technology to build an unrivaled platform.”

Anne Lester, Global Head of Retirement Solutions, J.P. Morgan Asset Management said: “We are investing in pensions and savings solutions and technology capabilities to help investors achieve better financial outcomes, reinforcing our commitment to putting clients first in every aspect of our business. Smart Pension has demonstrated how financial technology can have a positive impact by making it easier both for people to save for retirement and for companies to offer pension plans to their employees.” She will take a non-executive seat on the Smart board.

Other Smart Pension backers include Legal & General Investment Management and prolific UK angel investor Chris Adelsbach.

Will Wynne, Smart Pension co-founder and managing director, said: “The company is in the early-stage conversations with new global partners as the world’s financial institutions grapple with regulatory change and legacy technology.”

Established in 2014, Smart Pension is a savings technology platform provider and one of UK’s workplace pensions provider. It is a defined contribution master trust pension scheme setup for UK employers to automatically enroll employees in a workplace pension scheme that meets the required legislative standards.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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