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Penfold (company)

Penfold (company)

Penfold is a London-based company focusing on pension management, offering a smartphone app for pension tracking.

Penfold is a pension management company offering a full-stack pension in a smartphone app that allows people to track everything about their pension in real time. It is also an auto-enrollment platform for employers.

The company closed a $8.5 million (£6 million) funding round, $4 million of which was from a crowdfunding campaign. The round was led by Bridford Group. Instead of relying on third parties Penfold is approved by the FCA to operate a pension. The company is aimed at freelancers who rarely save. To participate, users download the app, enter some legal details for KYC, pick one of the five investment plans based on age/risk appetite, pick how to fund either through recurring direct debit, and open banking top up or transfer from another pension. They then get HMRC 25% top ups until retirement. The platform includes a “Find my pension” feature that helps users put in the name of their old employer in order to track down their former pension pot.

Timeline

May 28, 2021
Penfold raises a $4,246,300 venture round.
May 10, 2021
Penfold raises a $4,334,850 private equity.
August 31, 2019
Penfold raises a $2,678,170 seed round.
September 30, 2018
Penfold raises a $325,600 pre-Seed.

Funding rounds

People

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Role
LinkedIn

Chris Eastwood

Employee

Pete Hykin

Employee

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Companies

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News

Title
Author
Date
Publisher
Description
Rebekah Evans
July 28, 2021
Express.co.uk
A PENSION warning has been issued to Britons, as a large proportion of people have no idea how much they have in savings - potentially putting their retirement at risk.
Connor Coombe-Whitlock
July 25, 2021
Express.co.uk
PENSION funds and values could see dramatic shifts over the coming months and years, as employers and institutions commit to green and sustainable investments. Some of the largest UK employers have committed to alter how they invest pensions and this could catch many savers off guard if they're not careful.
Connor Coombe-Whitlock
July 12, 2021
Express.co.uk
PENSION savings are built up throughout a person's working life and in recent years, the Government has made efforts to encourage private contributions through measures such as automatic enrolment. While these efforts have been commended, it does mean workers are likely to build up multiple pension pots as they move between jobs, which poses the risk of losing track of retirement funds.
Jess Sheldon
June 20, 2021
Express.co.uk
RETIREMENT is a time many look forward to, but the prospect of funding this time of life can seem daunting. That's a feeling which Matt Ciskowski, age 24, has already experienced.
Richard Dal Porto
May 28, 2021
TechCrunch
Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.
Mike Butcher
May 28, 2021
TechCrunch
Penfold, a startup that offers a full stack pension in a smartphone app, has closed a $8.5 million (£6m) funding round, $4M of which was from a crowdfunding campaign. The company is now approved by the FCA to operate a pension itself rather than relying on third parties, and is aimed at freelancers who rarely [...]
Mike Butcher
May 28, 2021
TechCrunch
Penfold, a startup that offers a full stack pension in a smartphone app, has closed a $8.5 million (£6m) funding round, $4M of which was from a crowdfunding campaign. The company is now approved by the FCA to operate a pension itself rather than relying on third parties, and is aimed at freelancers who rarely [...]

References

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