Penfold, the digital pension that makes saving for the future easy, so you can enjoy today. Backed by serial FinTech investors, their top-rated app & in-house pension infrastructure manages over £24m in savings for over 10k customers. They're raising to accelerate growth & launch workplace pensions.
We founded Penfold because we believe traditional pension providers aren’t working anymore. Their clunky technology and endless jargon has left consumers confused and disinterested. Millions have lost track of their pension or even put off saving entirely.
So we built a next-generation pension platform that removes the pain from saving for later life.
Our highly-rated apps and website let users set up their pension in minutes, or find and combine their old pots in a few taps.
Our custom-built technology automates traditionally manual processes, helping us deliver a seamless, flexible, user experience and outstanding customer service to anyone. Even those at the start of their savings journey.
We launched in Oct 2019 and now have 10k customers with £24m AUM, growing assets 140% in the last 4 months. We’ve also partnered with the likes of Starling Bank, offering Penfold to their SME customers.
We started with the UK’s 5m self-employed, as 86% weren’t saving into a pension. Penfold is now open to everyone and we'll soon launch workplace pensions to broaden our customer base even more.
With £7trn held in UK pension funds, but millions still not saving enough, the market is huge and ready for disruption.
Backed by a number of investors including Force Over Mass Capital, Plug & Play Ventures and early backers of Adyen and Spotify, we're raising to accelerate growth.