Digital pensions FinTech Penfold has raised £7mn in its Series A round.
Penfold offers a solution that helps employees access and manage their workplace pensions.
The round was led by Bridford Group, an existing investor.
It also included a crowdfund including over 900 retail investors including customers.
What does this mean?
Penfold has seen growth since launching its workplace pension platform in 2021. It now has over £100mn assets under administration and will use the funding to expand this part of the business.