Helping people save and invest direct from payroll, promoted by many of the UK's leading employers
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.smarterly.co.uk |
| Sectors | Finance & Payments Digital Mixed B2B/B2C |
| Company number | 10967805 |
| Incorporation date | 14 Dec 2017 |
Idea
Introduction
Smarterly aims to turn the UK into a nation of savers and investors, by promoting the benefits of healthy savings habits via people's employers. Employers promote Smarterly as an employee benefit, to help their staff build healthy saving habits with the convenience of saving directly from their pay, often with a contribution boost from the employer as a more accessible complement to pensions.
Our service is automated and therefore very scalable. We use sophisticated algorithms to analyse over 1,000 funds, build ready-made portfolios and comparison tables and then monitor each customer’s individual portfolio on a daily basis. We own all the tech and have full regulatory permission to handle client money.
We aim to be the market leader in workplace savings, a market opportunity of £90bn pa in private and public sector pensions. We have already secured over 100 corporate clients with our ISA lead proposition. To extend our workplace savings offering we have acquired a pension master trust and now have a combined customer base of c80,000 members and c£220m assets under management.
Preemption details
As announced on the company's post investment page, Smarterly raised £5m by
way of a convertible loan for the acquisition of the Salvus pension master trust and
has now raised a further £2m in growth financing by way of equity.
The loan is convertible into shares at a subscription price of £13.39 per share (equal
to a £21m pre-money valuation), which is the same as the equity growth funding
round.
This campaign allows existing shareholders to participate in the round on the same
terms, i.e. £13.39 per share. Pre-emption amounts have been calculated based on
the total potential dilution taking into account future conversion of the loan, i.e. £7m
in total. However, you are able to invest more than your allocation if you'd like.
As this is a pre-emption campaign limited information is being provided. You can find
out more by downloading the investor update under the documents tab and the
updates posted on the company's post investment page.
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If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
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