JP Morgan has increased its investment in a fintech specialising in workplace pensions and technology, raising its total investment to £50 million.
This London-based company, co-founded in 2014, aims to enhance its global presence, particularly after securing a significant contract in Ireland.
Investment Details
JP Morgan has invested further in a fintech pension company, bringing its total investment to £50 million. The London-based company, which specialises in workplace pensions and technology, obtained this funding as part of a recent financing round.
Company Background
The company, co-founded in 2014, provides both workplace pensions via a master trust and a technology platform with an app for savers. It aims to extend its savings platform technology to new global markets and recently secured its first international contract in Ireland.
Global Market Expansion
Winning an international competitive tender in October to build a savings technology platform in Ireland is a significant step for the company. This achievement highlights the company’s ability to fill a substantial gap in the workplace savings platform market on a global scale.
Strategic Partnerships and Future Plans
As the world’s financial institutions navigate regulatory changes and legacy technology, the company is engaging in early-stage discussions with new strategic partners. These conversations are critical as the company seeks to broaden its impact and reach.
Leadership and Governance
JP Morgan’s Anne Lester, global head of retirement solutions, will join the company’s board in a non-executive role. She emphasised that the company is committed to helping investors achieve better financial outcomes through innovative pension and savings solutions.
Technological Capabilities
The company’s proprietary dynamic technology plays a crucial role in its success. This technology makes it easier for individuals to save for retirement and for employers to offer pension plans, showcasing the positive impact of financial technology.
Investor Commitment
JP Morgan’s continued investment underscores its commitment to supporting innovative fintech solutions in the pension sector. This strategic investment demonstrates confidence in the company’s potential to drive positive change in the industry.
JP Morgan’s latest investment signifies a robust commitment to fintech innovation in the pension industry.
With its unique technology and strategic partnerships, the company is well-positioned for continued growth and success in the global market.