Fintech

Pension FinTech Jarvis Raises £1.8m Funding

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9 months ago

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By Gloria Methri

July 26, 2024

  • VC Ascension
  • VC Cornerstone
  • Digital Financial Management

Jarvis, the London-based finance company specialising in pensions, has increased £1.8 million in a seed funding round co-led by Ascension VC and Cornerstone VC, with participation from Tokio Marine Future Fund. The investment will support the growth and development of the product as it integrates with the broader ecosystem of pension-related services.

The global workforce is moving toward greater financial autonomy, driven by the rise of self-employment and the gig economy. Over 50% of the global workforce is expected to be self-employed by 2028. Traditional workplace benefits, such as pensions, are becoming less accessible, making the need for comprehensive retirement planning tools more important.

Jarvis offers a complete retirement planning solution through two main components: the Jarvis Pension and an app. The Jarvis Pension includes both personal and business “jars”, allowing users to manage their pensions and contributions in one place.

The app provides real-time insights into retirement goals and simplifies pension management, including setting up retirement budgets, planning joint retirements, consolidating old pensions, and adjusting investment risk profiles. It also integrates broader financial data such as cost of living, tax rates, and inflation.

For employers, Jarvis provides a financial wellness solution, including an auto-enrollment company pension designed for the modern workforce. Through its API, Jarvis integrates with payroll systems and enables seamless reconciliation of payroll data, simplifying financial management for both employers and employees.

Royden Greaves, CEO and founder of Jarvis, said: “In my 15 years in the wealth management industry, I have seen the stark contrast between those who can afford ongoing financial advice and the majority who cannot. This inspired me to create a solution that is accessible to everyone, regardless of their financial situation. Jarvis is designed to provide clarity and empower people to enjoy life now while effectively planning for the future. Our platform helps users balance present enjoyment with future security. This investment will support our continued growth as we integrate with the broader ecosystem.”

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