By Oliver Smith on Tuesday 13 August 2019
The £2m round comes just 11 months after Smarterly’s last £1.6m crowdfund.
Less than a year after its last funding round, employee-focused investment platform Smarterly is returning to Seedrs to raise an additional £2m.
Smarterly, which launched last year in partnership with Neyber and is part-owned by employee benefits giant Unum, says the fresh capital is focused on developing the company’s sales and marketing.
“Our campaign last year attracted over 80 investors from within our industry and another 500 via the public. Since then we’ve secured many more corporate clients who promote our workplace savings platform to their employees,” said Smarterly co-founder and executive chairman Phil Hollingdale.
Smarterly is pitched as an employee financial wellbeing offering for companies, allowing their staff to open an ISA or Lifetime ISA.
“It appeals to all demographics,” added Hollingdale. “Millennials are attracted by the Lifetime ISA and its 25% Government-funded bonus, whilst high earners in the private sector direct employer-funded pension contributions into ISAs due to tightening restrictions with annual and lifetime allowances on pensions.”
Smarterly is raising its new funding round at a pre-money valuation of £16.7m, up from its 2018 valuation of £10.7m.