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§ Private Profile · London, England
Penfold is a technology company.
Penfold provides a digital platform for workplace auto-enrolment and private pensions. It offers a modern online interface and mobile application, enabling individuals to easily consolidate existing pension pots and manage savings transparently. For employers, Penfold simplifies administration and aims to increase employee engagement with financial planning.
Penfold was established in 2018 by Chris Eastwood, Pete Hykin, and Stuart Robinson. Their foundational insight aimed to modernize the complex pension sector through technology. They sought to create a more accessible and intuitive digital savings experience, demystifying retirement planning for a contemporary audience.
Penfold caters to businesses requiring efficient workplace pension schemes, financial advisers, and individual savers. The company's vision is to make pension saving genuinely beneficial and accessible, empowering users to achieve financial well-being through its flexible, supportive digital platform.
Penfold has raised $25.3M across 4 funding rounds.
Penfold has raised $25.3M in total across 4 funding rounds.
Penfold has raised $25.3M across 4 funding rounds. Most recently, it raised $5.3M Other Equity in May 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 22, 2025 | $5.3M Venture Round | Rohit Mathur | — | Announced |
| Aug 13, 2022 | $8.5M Series A | Bridford | Jeremy Coller | Announced |
| May 28, 2021 | $8.5M Venture Round | Bridford | — | Announced |
| Aug 1, 2019 | $3M Seed | — | Albion VC, DST Global, Helium 3 Ventures, MMC Ventures, Passion Capital, Platanus Ventures, Plug & Play Ventures, Presight Capital, Valar Ventures, Charles Delingpole, Charlie Songhurst, Christian Faes, Christian Woolfenden, Daniel Gandesha, Matt Bellamy, Richard Fearn, Will Brooks, Will Martin | Announced |
Penfold is a UK-based fintech company building a digital pension platform that simplifies retirement savings for individuals and businesses. It offers flexible, user-friendly workplace pensions, particularly targeting self-employed workers, SMEs, limited company directors, and employees via auto-enrolment solutions[1][2][3]. Penfold solves the problem of confusing, jargon-heavy pension systems by providing a proprietary app with clear visibility, easy contributions, and compliance tools, helping users save more confidently[1][2][6]. With over 100,000 users and thousands of business clients like Paddle and Anthropic, it has raised over £15m in funding, including a recent £3.9m round in 2025 to expand into SMEs and accountancy markets while enhancing its app[1][2].
Penfold Technology Ltd was incorporated on 26 May 2018 in London, with co-founder Chris Eastwood at the helm[1][4][5]. The idea emerged to address the lack of suitable retirement savings for self-employed people, launching publicly in 2019 with a flexible, digital-first pension product[2]. Early traction came from this underserved market, leading to expansion into workplace auto-enrolment for modern businesses; pivotal moments include a £7m Series A in 2022 led by Bridford Group and the 2025 £3.9m raise from Gresham House Ventures, bringing total funding over £15m and backing from investors like Plug & Play Ventures and Force Over Mass Capital[1][2].
Penfold rides the fintech disruption wave in pensions, capitalizing on digital transformation amid low retirement savings rates due to outdated systems[1][2]. Timing aligns with UK regulatory pushes for auto-enrolment and SME growth, where traditional providers lag in tech; market forces like rising self-employment and AI firms seeking modern benefits favor its scalable, compliant platform[1][3]. It influences the ecosystem by challenging incumbents, serving high-profile startups, and expanding digital access, potentially accelerating pension tech adoption across Europe[1][2].
Penfold's next phase involves SME/accountancy expansion and next-gen app features, leveraging £3.9m to scale users and tech amid fintech funding recovery[1]. Trends like AI-driven personalization and regulatory simplification will shape its path, positioning it to capture more of the UK's £2trn+ pension market. Its influence may evolve from challenger to category leader, empowering broader retirement security as digital natives demand intuitive finance—reinforcing its mission to make saving feel worthwhile from day one[2].
Penfold has raised $25.3M in total across 4 funding rounds.
Penfold's investors include Rohit Mathur, Bridford, Jeremy Coller, Albion VC, DST Global, Helium-3 Ventures, MMC Ventures, Passion Capital, Platanus Ventures, Plug & Play Ventures, Presight Capital, Valar Ventures.