15th May 2023 11:12
Chrysalis Investments Ltd - investor in technology and finance startups - Makes follow-on investment of GBP12.5 million into Smart Pension. Says the investment forms part of a USD95 million Series E funding round led by Aquiline Capital Partners, together with other existing investors. Says the proceeds of the round will be deployed to continue to drive growth in key markets, fund acquisitions, and provide the capital to drive Smart towards profitability. Smart currently has GBP5.5 billion in assets under management on its platform, up 17% from GBP4.7 billion at the end of 2022.
Co-portfolio managers Nick Williamson and Richard Watts say: "Smart has shown tremendous growth since Chrysalis first invested in 2021. Its innovative and market-leading pensions technology offers its customers a highly efficient way to provide retirement solutions to their savers."
Current stock price: 60.20 pence each
12-month change: down 56%
By Xindi Wei, Alliance News reporter
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