Our crowdfund is closed!
We raised £1.9m from 900+ investors. Thank you to everyone that invested, we've been overwhelmed by your support!
We'll be investing our crowdfund alongside our wider Series A to continue building our next-generation pension platform that helps everyone save more for retirement.
If you would like to be updated about future crowdfunds, please register below.
We're making great progress
And we aren't slowing down.
£14m investment raised
25,000+ active customers
£90m+ assets under administration
4x customer assets year-on-year
Join our mission to fix pensions
Traditional providers make saving for retirement too difficult. Outdated technology and endless jargon leaves people confused and disengaged.
So we built a modern, easy to use pension that has already helped over 25,000 customers save more than £90m for later life.
Since our last crowdfund, we launched our workplace pension, finally engaging employees with their auto-enrolment savings and rethinking pensions for HR and Finance teams.
But this is just the start. Our mission is to be the pension that stays with people throughout their life and gets millions more people saving enough for retirement.
Backed by the best
So far, we've raised £5m for our Series A. This brings the total investment raised to £14m from some of the most experienced fintech investors and entrepreneurs in Europe. Our investors include venture capital firms Plug & Play Ventures and Force Over Mass Capital, as well as early backers in some of technology's biggest names.
What’s next for Penfold
Since our first crowdfund, which sold out in less than 24 hours last year, we've launched our B2B workplace pension, taking it to over 150 businesses with over 6,500 staff already, alongside our 20,000 individual customers.
We're now raising our Series A to build on this momentum and fund our next exciting chapter of growth.
This investment will enable us to scale our Workplace pension and continue to invest in improving our product and customer service.
Investor rewards
Pilot: £10+
Every investor receives a badge in the Penfold app and invitations to the beta list for early access to new and premium features.
Captain: £500+
Everything from Pilot and 0.5% off fees from 1st September to 30th November.
Astronaut: £1,000+
Everything from Pilot and 0.5% off fees from 1st September to 28th February.
Crowdfund FAQs
Crowdfunding is a way for growing businesses to receive investments from their community.
Rather than rely on traditional financial institutions and investors, we want to be more open. This crowdfund gives you the chance to own shares in Penfold and become an integral part of our story.
Penfold will be listed on Crowdcube, the UK’s largest online crowdfunding platform.
Yes, every investor will receive shares in “Penfold Technology Limited” for which Penfold is our trading name. The number of shares you receive will be proportionate to the amount you invest. The final number of shares issued depends on the number of investors and amount of money raised.
We will notify anyone who registers their interest before the campaign goes live. Anyone that pre-registered will receive exclusive access to the campaign before it is made public.
The campaign will last up to 7 days, ending whenever we reach our investment target. If we reach our target early, we‘ll give notice 24 hours before the round closes. Please note, there is a limited amount of equity available in this round and we expect the round to fill quickly. We encourage you to invest as soon as the round opens.
Having raised £14m so far, including £5m so far for the Series A, we’re seeking this top-up to accelerate the growth of our Workplace proposition, and continue introducing improvements to both our product and customer service. Please see our business plan on our Crowdcube page for more details.
If we are fortunate to raise more than our target, we’ll use the extra investment to grow the company even more quickly than we currently plan. Raising investment above our target simply means we will have more shareholders and be ‘giving away’ a larger percentage of our company.
Initially, your investment will be recorded as a pledge, meaning no money will leave your bank account. Following the successful completion of the campaign, Crowdcube will contact you to confirm the date that the money will be deducted from your account. You ‘ll be given a minimum of seven days notice before money is taken from your account. This allows you to make funds available but also gives you a final opportunity to opt-out of the investment.
We will issue shares to the Crowdcube Nominee to hold for you after the successful completion of the campaign, once your investment has been processed. Completing the round and necessary paperwork takes a few weeks, but typically you can expect to receive confirmation from the Nominee of your share ownership around 4 weeks after the campaign has ended.
Penfold is a private limited company which means, at present, there is no public forum for buying and selling our shares. Shares may be bought and sold by private arrangement, however, you must first offer them to other shareholders before transferring them to a single third party at your own expense.
It’s possible, although no such plans are currently in place. This would be an opportunity for you to sell your shares.
Yes, our business plan (and financial overview) will be available on our Crowdcube campaign page. If, after reading it, you have any further questions please don’t hesitate to contact us. You’ll find our contact details supplied in the pack - we’re happy to answer all questions or supply any additional information.
This is a long term investment in a fast growing company. The main way that you can make money from your investment is by selling your share for more than you paid for it.
We are a private limited company, and our shares are therefore not publicly traded at present. In the event of a future sale of the company, you would be able to sell your shares to the acquiring company. Alternatively, if the business grows to a point where the company management/further institutional investors offer to buy back, you are also likely to be able to sell your shares.
Disclaimer – Investments of this nature carry risks to your capital as well as potential rewards.
The Enterprise Investment Scheme (EIS) is a UK government scheme designed to help smaller higher-risk trading companies raise finance, by offering a range of tax relief to investors who purchase new shares in those companies. You can find out more about EIS and what it means for you as an investor here.
Remember your capital is at risk
This is not an investment commitment at this stage - once you have registered your interest, we’ll be in touch via email when our campaign is open for investment.
We believe investing should be for everyone, but it is important to remember your capital is at risk. Your investment could be locked up for a long time, as you don’t get a return until we exit (i.e. we’re bought or go to market in an IPO). Approved as a financial promotion by Crowdcube Capital Ltd. authorised and regulated by the FCA (No. 650205).
Most countries in the world including the UK and the rest of Europe are embracing equity crowdfunding as a progressive way of allowing individuals to invest in the businesses they believe in and thus support innovative companies to grow. However equity crowdfunding is regulated quite differently in the USA, Canada and Japan so if you are from one of these countries please contact us on invest@getpenfold.com.