London-based Penfold Employee and his pension app for business has raised € 4.6 million for further development

British startup PenfoldA digital workplace pension provider has announced today that it has raised a € 4.6 million investment round to increase the presence of UK SMEs and Accounting Markets and accelerates the development of its pension app with new features for saver and business.

This round, enterprise solutions, healthcare and customer market sectors, led by Gracem House Venture, are especially growth in digital -powered businesses, especially growth equity investors.

Chris EastwoodPenfold’s co-founder says: “This investment in Grasham House Venture will enable us to make a better pension solution to the business and savers to enhance our goal of confidence and to enhance our digital offer. Grasham House Venture has a great track record of supporting fast growing business like us so we are sure that this investment will enable our recent speed to accelerateThe “

Established in 2018, Penfold showed to convert the € 9.4 Trillion UK to convert the pension industry to retirement “Easy, accessible and attractive“. Its platform allows employers to set up and manage a pension, applied salary sacrifice and allow employees to benefit.

Penfold provides a digital workplace pension through a owned platform, which enables traders to sign up within minutes or switch their pensions – according to Penfold, it is a significant improvement than inheritant suppliers.

In recent years, the business has seen a significant growth, the number of employers – more than 1,220 to 5,7 – and the wealth under the administration has risen to about $ 830 million by the end of the Q1 2025 by the beginning of 2021.

Penfold believes that this growth has been driven by their free salary implementation service, saving sms for national insurance contribution and helping the rapid expansion of the firm’s firm partner network.

Grasham House Venture’s Funds will be used to extend the presence of Penfold in UK SMEs and Accounting Markets and to accelerate the development of its pension app with new features for saver and business. Investment in Penfold will be held on BaronShemed and Mobius Visities which are operated/suggested by Grasham House.

This agreement continues to have a busy period for Grasham House Venture, now the business raises funds for its baronsSered Visites. It was also active in the dilopo, led by Mozo and the Mobility of the Data Platform and the Adventure Travel Scale-Up, recently invested in better adventure.

Rohit MathurGrasham House Ventures Investment Partner says: “We are fascinated by Penfold’s commercial tracks because it leads the charge to disrupt the pension industry. With the significant possibility of enhancing its customer base and strengthening its digital offer in the coming years, we are interested in supporting the continued progress of Penfold because it enters the next stage of its growth.“