UK Fintech Smarterly Receives £7M Investment, Led by Major Oak Family Office

UK Fintech Smarterly Receives £7M Investment, Led by Major Oak Family Office

The UK startup Smarterly received a £7M Series A funding round. The round was led by the Major Oak Family Office.

Lifetime ISAs through payroll deduction

London-based Smarterly launched in 2017 in order to offer workplace saving plans through payroll deductions. Through Smarterly’s intuitive platform, employees can invest in lifetime ISA. Many major UK companies introduced Smarterly as employee benefit. Recently, Smartly also acquired the pension account firm Salvus. Smarterly now has 80,000 customers and more than £230M assets under management.

Major Oak family office as lead investor

The main part of the round (£5M) was contributed by the Major Oak family office, which has made with Smarterly its first larger investment.

Sources
Business Cloud, 21.05.2020
NeONBRAND (picture), 21.05.2020

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