Penfold's Bold Leap: Transforming Pensions with Fresh Funding
May 23, 2025, 9:34 pm
Location: United Kingdom, England, London
Employees: 51-200
Founded date: 2018
Total raised: $26.47M
In the bustling heart of London, a digital revolution is underway. Penfold, a startup reshaping the pension landscape, has secured €4.6 million in funding. This investment, led by Gresham House Ventures, marks a significant milestone for the company. It’s not just about money; it’s about momentum.
Founded in 2018, Penfold aims to simplify the complex world of pensions. The UK pensions industry is a giant, worth €9.4 trillion. Yet, it often feels like a labyrinth to navigate. Penfold’s mission is clear: make saving for retirement simple, accessible, and engaging. Their platform is designed for the modern workplace, allowing businesses to set up and manage pensions in mere minutes.
This latest funding round is a testament to Penfold’s rapid growth. Since the start of 2024, the number of employers using their workplace pension has tripled. They’ve gone from 1,200 to over 4,000. That’s not just growth; that’s a surge. Assets under administration have skyrocketed by 91%, reaching nearly €830 million by the end of Q1 2025.
So, what’s driving this success? One key factor is Penfold’s free salary sacrifice implementation service. This feature helps small and medium-sized enterprises (SMEs) save on National Insurance contributions. It’s a win-win. Employers save money, and employees gain valuable benefits.
Penfold’s platform is not just user-friendly; it’s a game-changer. Traditional pension providers often drown businesses in paperwork and red tape. In contrast, Penfold offers a seamless digital experience. Companies can switch their pension plans with a few clicks. This efficiency is a breath of fresh air in a sector often bogged down by outdated practices.
The investment from Gresham House Ventures will fuel Penfold’s expansion into the UK SME and accountancy markets. It’s a strategic move. SMEs are the backbone of the UK economy, and they need robust pension solutions. With this funding, Penfold can enhance its app, adding new features that cater to both savers and businesses.
Gresham House Ventures has a reputation for backing fast-growing companies. Their confidence in Penfold signals a bright future. The firm has been active in the investment space, recently supporting other innovative businesses like Mobility Mojo and Much Better Adventures. Their track record speaks volumes.
Penfold’s growth isn’t just about numbers; it’s about impact. The company is on a mission to disrupt the pensions industry. They’re not just another player in the field; they’re a catalyst for change. The traditional pension model is ripe for disruption, and Penfold is leading the charge.
As the digital landscape evolves, so do the needs of businesses and employees. Penfold recognizes this shift. Their platform is designed to adapt, offering features that resonate with today’s workforce. The focus is on engagement. Pensions shouldn’t be a chore; they should be a benefit that employees value.
The company’s vision extends beyond just providing a service. They aim to educate and empower savers. Retirement planning can be daunting, but Penfold is committed to making it approachable. Their app is not just a tool; it’s a resource for financial literacy.
The funding will also bolster Penfold’s partner network, particularly among accountancy firms. These partnerships are crucial. Accountants play a pivotal role in advising businesses on pension options. By strengthening these ties, Penfold can reach more SMEs and enhance their offerings.
In a world where financial security is paramount, Penfold is stepping up. They’re not just building a pension app; they’re crafting a safety net for the future. The company’s growth trajectory is impressive, but it’s the potential for transformation that truly excites.
As Penfold continues to innovate, the pensions industry will be watching closely. Their approach could set a new standard. The combination of technology and user-centric design is a powerful formula. It’s a reminder that even in traditional sectors, there’s room for innovation.
In conclusion, Penfold’s recent funding is more than just a financial boost. It’s a signal of change in the pensions landscape. With Gresham House Ventures backing them, Penfold is poised for significant growth. They’re not just offering a product; they’re redefining what pensions can be. The future looks bright for Penfold, and for the businesses and employees they serve. The journey has just begun, and the possibilities are endless.
Founded in 2018, Penfold aims to simplify the complex world of pensions. The UK pensions industry is a giant, worth €9.4 trillion. Yet, it often feels like a labyrinth to navigate. Penfold’s mission is clear: make saving for retirement simple, accessible, and engaging. Their platform is designed for the modern workplace, allowing businesses to set up and manage pensions in mere minutes.
This latest funding round is a testament to Penfold’s rapid growth. Since the start of 2024, the number of employers using their workplace pension has tripled. They’ve gone from 1,200 to over 4,000. That’s not just growth; that’s a surge. Assets under administration have skyrocketed by 91%, reaching nearly €830 million by the end of Q1 2025.
So, what’s driving this success? One key factor is Penfold’s free salary sacrifice implementation service. This feature helps small and medium-sized enterprises (SMEs) save on National Insurance contributions. It’s a win-win. Employers save money, and employees gain valuable benefits.
Penfold’s platform is not just user-friendly; it’s a game-changer. Traditional pension providers often drown businesses in paperwork and red tape. In contrast, Penfold offers a seamless digital experience. Companies can switch their pension plans with a few clicks. This efficiency is a breath of fresh air in a sector often bogged down by outdated practices.
The investment from Gresham House Ventures will fuel Penfold’s expansion into the UK SME and accountancy markets. It’s a strategic move. SMEs are the backbone of the UK economy, and they need robust pension solutions. With this funding, Penfold can enhance its app, adding new features that cater to both savers and businesses.
Gresham House Ventures has a reputation for backing fast-growing companies. Their confidence in Penfold signals a bright future. The firm has been active in the investment space, recently supporting other innovative businesses like Mobility Mojo and Much Better Adventures. Their track record speaks volumes.
Penfold’s growth isn’t just about numbers; it’s about impact. The company is on a mission to disrupt the pensions industry. They’re not just another player in the field; they’re a catalyst for change. The traditional pension model is ripe for disruption, and Penfold is leading the charge.
As the digital landscape evolves, so do the needs of businesses and employees. Penfold recognizes this shift. Their platform is designed to adapt, offering features that resonate with today’s workforce. The focus is on engagement. Pensions shouldn’t be a chore; they should be a benefit that employees value.
The company’s vision extends beyond just providing a service. They aim to educate and empower savers. Retirement planning can be daunting, but Penfold is committed to making it approachable. Their app is not just a tool; it’s a resource for financial literacy.
The funding will also bolster Penfold’s partner network, particularly among accountancy firms. These partnerships are crucial. Accountants play a pivotal role in advising businesses on pension options. By strengthening these ties, Penfold can reach more SMEs and enhance their offerings.
In a world where financial security is paramount, Penfold is stepping up. They’re not just building a pension app; they’re crafting a safety net for the future. The company’s growth trajectory is impressive, but it’s the potential for transformation that truly excites.
As Penfold continues to innovate, the pensions industry will be watching closely. Their approach could set a new standard. The combination of technology and user-centric design is a powerful formula. It’s a reminder that even in traditional sectors, there’s room for innovation.
In conclusion, Penfold’s recent funding is more than just a financial boost. It’s a signal of change in the pensions landscape. With Gresham House Ventures backing them, Penfold is poised for significant growth. They’re not just offering a product; they’re redefining what pensions can be. The future looks bright for Penfold, and for the businesses and employees they serve. The journey has just begun, and the possibilities are endless.