28th Jun 2021 10:58
(Alliance News) - Chrysalis Investments Ltd on Monday announced an investment of GBP75 million in Smart Pension Ltd, a London-based savings and investment platform provider which delivers retirement savings and income services.
The investment is part of a Series D funding round worth GBP165 million, comprising GBP110 million in capital from new investors and GBP55 million from existing Smart Pension shareholders.
Proceeds from the investment will go towards Smart enlarging its retirement technology platform in the UK, US, Australia and Middle East.
"The world has changed. Just as companies like Wise and Klarna add huge benefits to their users via best-in-class financial technology, Smart offers user experience and technology to transform retirement for savers around the world. What Smart has achieved in the last 12 months alone was a real catalyst for our support, and we believe that together we can help Andrew and Will achieve their global ambitions," said Portfolio Managers Richard Watts and Nick Williamson.
Chrysalis also holds an interest in money transfer firm Wise PLC, which has confirmed its intent to list on the London Stock Exchange in early July.
Shares in the long-term growth-focused investment trust were down 0.1% at 265.75 pence on Monday in London.
By Dayo Laniyan; [email protected]
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