JP Morgan takes minority stake in Smart Pension
JP Morgan has taken a minority equity stake in UK workplace pensions provider Smart Pension.
No financial details were disclosed
No financial details were disclosed. In terms of the bigger picture, this brings Smart’s total funds raised to date to £50 million.
Will Wynne, Smart Pension co-founder and MD, says: “In October we won our first international competitive tender [with New Ireland Assurance] to build a savings technology platform in Ireland. This gives us an opportunity to demonstrate how our unique proprietary dynamic technology is plugging a huge gap in the workplace savings platform market, and performing on a global scale.”
The firm says it is also in early-stage conversations with new partners globally. No details on any of that.
Smart was co-founded in 2014 by Andrew Evans (CEO) and Wynne, and launched in May 2015.
Legal & General Investment Management (LGIM) took a minority stake in the digital pension platform in 2016.
Back in November 2018, Smart developed a “financial well-being” solution powered by Envizage’s guidance engine.
Incorporating elements of e-learning, the application will use Envizage’s data-driven future analytics simulation to deliver a scenario modelling approach.
