The London-based leading fund manager Chrysalis Investments has reportedly picked up a £75 million stake in Smart, a retirement savings platform.
As per a report by Sky News, Chrysalis will announce the funding on Monday. Chrysallis has backed fintech companies such as Klarna, Starling Bank, and cross-border payments app Wise.
The report further adds that Chrysalis’ stake in Smart is part of the latter’s £165 million Series D funding, its largest fundraising since its launch in 2015.
Smart is a major player in the Pensiontech segment and operates one of the big four UK auto-enrolment master trusts; and plans to use the new funds to expand its services in the UK, US, Australia, and the Middle East, the report stated.
In February this year, Smart had partnered with Barclays to provide access to about 1,100 businesses on its Smart Pension platform. Businesses that sign up through Barclays will be able to offer their employees access to the bank’s proprietary Global Market Funds, which invest in a broad range of asset classes and are managed by the same team of investment experts that look after the bank’s Wealth clients.
