Smart launched in 2015 with the goal of making pension auto-enrolment and administration simple for businesses and their employees. The company has since expanded to work with financial institutions and governments across the world, including through its core technology platform Keystone. CIBC Innovation Banking is pleased to announce £40 million of growth financing for London-based Smart, a leading retirement technology provider. Smart will use the capital to expand its market growth, accelerate the launch of strategic products, and undertake acquisitions. Smart is also backed by Legal & General, J.P. Morgan, Link Group, Natixis, Barclays, Chrysalis Investments, DWS Group, and Fidelity International Strategic Ventures.
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO 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 across CIBC’s commercial banking and capital markets businesses. Smart is a global savings and investments technology platform provider. Its mission is to transform retirement, savings, and financial well-being around the world. Smart partners with governments and financial institutions (including insurers, asset managers, banks, financial advisers) to deliver retirement savings and income solutions that are digital, bespoke, and cost efficient. In addition to the UK, Smart operates in the USA, Europe, Australia, and the Middle East with more than a million savers entrusting over £4 billion in assets to the platform.