Kyle Chubb | Monday 11th July, 2022
Today we’re absolutely thrilled to announce that, after a successful Series A investment round, we’re giving our savers the chance to join in our mission to make pensions better. We're crowdfunding!
Here’s what’s happening and why we’re doing it.
This crowdfund is all about opening up Penfold to our wonderful community.
We started Penfold for one reason. We believe that pensions today just aren’t good enough.
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 Outdated technology and endless jargon leaves people confused and disengaged.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.
Our mission is to be the pension that stays with people throughout their life and gets millions more people saving enough for retirement.
We’re offering you the exclusive opportunity to play your part in this mission.
Crowdfunding is a way for growing businesses to receive investments from their community.
Savers like you have helped Penfold become what we are today - and now, you can join our story. This crowdfund gives you the chance to own shares in Penfold and become an integral part of our story from as little as £10.
Penfold will be listed on Crowdcube, the UK’s largest online crowdfunding platform.
You may remember we also ran a crowdfund last year.
Our last crowdfund was an incredible experience that we'll remember forever.
In May last year, we managed to reach our £3m investment target in less than 24 hours - with thousands of Penfold savers investing in our company.
Since then, we’ve been busy.
We launched our workplace pension, finally engaging employees with their auto-enrolment savings and rethinking pensions for HR and Finance teams.
Here's a quick summary of how we've grown over the last 12 months.
We’ve also just finished up our Series A investment round, raising £5m from some of the biggest VC firms in tech - taking our total funding amount to £14m.
Now, we’re inviting you, our community, to join in.
On top of continuing to deliver more for our existing savers, we’re also looking to bring our amazing pension experience to even more people.
A big part of our future will be continuing to build our popular workplace pension.
Penfold workplace launched in November 2021 and has grown quickly. Today, we’re the pension provider for over 150 businesses, looking after more than 5,500 staff - alongside our 20,000 private customers.
We’re raising our Series A to build on this momentum and fund our next chapter of growth.
That’s where you come in. Invest in Penfold during our crowdfund and you’ll also qualify for exclusive investor rewards.
Everyone who invests receives a badge in the Penfold app and an invitation to the beta list for early access to new and premium features.
Everything from Pilot and 0.5% off your Penfold management fees from 1st September 2022 to 30th November 2022.
Everything from Pilot and 0.5% off your Penfold management fees from 1st September 2022 to 28th February 2023.
In order to join our crowdfund, you’ll need to set up a Crowdcube account.
Crowdcube are the UK’s largest crowdfunding platform, offering some of the most exciting business in FinTech and beyond the chance to attract further investment.
You should also pre-register your interest to make sure you stay up to date with all the latest news as we approach the big day.
Don’t forget, our last crowdfund reached capacity in less than 24 hours!
Investments of this nature carry risks to your capital. Please Invest Aware.