Smart Secures $95 Million to Accelerate Global Expansion
In the dynamic landscape of fintech, Smart has just made waves with its impressive $95 million Series E funding round, led by Aquiline Capital Partners. This crucial investment sees participation from notable players such as Chrysalis Investments, Fidelity International Strategic Ventures, DWS, Barclays, and Natixis Investment Managers. For startup founders and savvy investors alike, Smart's journey serves as a vital case study in leveraging investment to fuel growth and drive innovation in the increasingly competitive retirement savings sector.
The London-based company, co-founded by Andrew Evans and Will Wynne in 2015, has strategically designed its proprietary technology platform, Keystone, to revolutionize how retirement savings and income solutions are delivered.
As the fintech industry continues to evolve, Smart stands out by providing digital and cost-efficient options for governments and financial institutions, including insurers, asset managers, banks, and financial advisers. With the backing of this latest funding, Smart plans to accelerate its global expansion, support near-term acquisitions, and enhance the distribution of its cutting-edge technology.
Smart's momentum is undeniable, with a remarkable group revenue of £67 million in 2022, marking a phenomenal 65% increase from the previous year. With over £5.5 billion in Assets Under Management (AUM) currently, this Series E funding positions the company to surpass £10 billion by the end of June 2023. For investors, Smart represents a compelling opportunity in the fintech arena, embodying the essence of innovation while addressing the critical needs of retirement savings. The future looks bright for Smart, and this funding round is just the beginning of their expansive journey.
Key Terms Explained
- Series E funding round
- Fifth stage of startup financing. This stage is typically for scaling the business, expanding to new markets and acquiring other businesses.
- Assets Under Management (AUM)
- Total market value of the investments that a person or entity manages on behalf of clients.
- Proprietary technology platform
- A unique system or application owned by a company, designed and built specifically for that company’s needs. In this case, the platform's purpose is to revolutionize retirement savings and income solutions.
Frequently Asked Questions
- Who led the Series E funding round for Smart?-The Series E funding round for Smart was led by Aquiline Capital Partners.
- How does Smart plan to use the funds from the Series E funding round?+
- What is Smart's primary business focus in the fintech sector?+
- What was the amount raised in the Series E funding round?+
- How much does Smart expect to have in Assets Under Management (AUM) by the end of June 2023?+
They've invested in Smart
Get to know these Fintech investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 Aquiline Capital Partners( ) NYC, US  | ||||
 Chrysalis Investments( ) London  | ||||
 Fidelity International Strategic Ventures( ) Fidelity International Strategic Ventures partners with innovative founders in t... London | Theia InsightsZILO™ | |||
 DWS( ) DWS is a global asset manager that participates in growth and strategic investme... | ||||
 Barclays( ) Barclays Corporate Venture Capital is the strategic investment arm of Barclays, ... London | ||||
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