Leicester-based start up The Pension Lab walked away with the top prize at an event hosted by software firm EValue and web developer 4xxi.
Three pension fintech start ups have walked away with a share of £27,000 of backing at the end of a pitch evening.
First prize went to Leicester-based start up The Pension Lab, founded by former private banker Scott Phillips and risk consultant Sanjay Champaneria. Their firm sells pensions dashboard to companies allowing them to show staff their pension value and their employer’s contribution, along with what that might mean for their retirement.
Financial software firm EValue and web developer 4xxi provided the prizes and hosted the event held at WeWork offices in Devonshire Square, London, last month.
There were six judges on the night, comprising four technical staff from EValue and 4xxi, an investor and AltFi editor Oliver Smith.
The Pension Lab won 12 months of unlimited access to EValue’s financial planning application programming interface (API) stack and a custom-built user interface from 4xxi, worth a combined value of £15,000.
Second prize was taken by Chancery Lane Retirement Income Planning, which won six months’ access to all EValue’s APIs. Chancery Lane provides baby boomers with a virtual advisor in order for them to get the most out of their pension and retirement.
Third place went to Zaster, winning three months API access. This London-based firm has built an automatic marketplace app for fintech services, which recommends the best financial services for its users.
EValue chief executive Paul McNamara (pictured) said: “We’re excited to work with these three exceptional start-ups and give them the tools to have a genuine and positive impact on the futures of ordinary people.”
James Greenhalgh, UK & Europe Sales Lead at 4xxi added: “It was fantastic to see such a range of exciting fintech start-ups apply to the competition.”
Five firms pitched on the night who were picked after a competitive round online applications.