CIBC Innovation Banking provides £ 40m growth funding to Fintech Company Smart to accelerate growth and acquisitions
LONDON – (BUSINESS WIRE) – CIBC Innovation Banking is pleased to announce £ 40 million in growth funding for London-based Smart, a leading provider of pension technology. Smart will use the capital to expand market growth, accelerate the launch of strategic products and complete acquisitions.
Smart was launched in 2015 with the aim of making automatic registration and administration of pensions easy for companies and their employees. The company has since expanded to work with financial institutions and governments around the world, including through its core technology platform Keystone.
“We are pleased to have CIBC Innovation Banking supporting Smart, helping us accelerate our growth ambitions in the short term, increase our presence in core markets and roll out product initiatives to transform retirement worldwide,” said Eoin Corcoran, CFO. by Smart. “Our technology is already helping more than a million people save and plan for retirement. We operate across four continents, and our growth plans will soon take us over ten million users. Our company is uniquely positioned to capitalize on the global market for $ 62 trillion in retirement savings, and this facility will strengthen our ability to do just that. ”
“We are excited to support Smart as they continue to scale their retirement technology offering to savers around the world in partnership with financial services organizations, governments and government legislators,” said Sean Duffy, CEO of CIBC Innovation Banking in London. office in the UK. “Smart and their team have delivered solutions to more than 100,000 companies, and we look forward to being part of their growth journey through the development of new strategic products.”
Smart is also supported by Legal & General, JP Morgan, Link Group, Natixis, Barclays, Chrysalis Investments, DWS Group and Fidelity International Strategic Ventures.
About CIBC Innovation Banking
CIBC Innovation Banking provides strategic advice, cash management and financing to innovation companies across North America, the UK and selected European countries at every stage of their business cycle, from start-up to listing and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends beyond CIBC’s commercial banking services and capital. . marketing businesses.
About Smart
Smart is a global provider of savings and investment technology platforms. Its mission is to transform retirement, savings and financial well-being around the world. Smart collaborates with governments and financial institutions (including insurance companies, asset managers, banks, financial advisors) to deliver pension savings and income solutions that are digital, tailored and cost-effective. In addition to the UK, Smart operates in the US, Europe, Australia and the Middle East with more than one million savers leaving over £ 4 billion in assets to the platform.
Smart supports its customers with a 750 strong global team.
Legal & General, JP Morgan, Link Group, Barclays, Natixis Investment Managers, Chrysalis Investments, DWS Group and Fidelity International Strategic Ventures are all investors in Smart.
For more information, please visit www.smart.co.
Contacts
Josh Burleton, [email protected]416-304-2712
Alana Stuart, [email protected]
