Fintech
Pensions fintech secures £1.8m funding to let workers know exactly when they can retire
My JarvisA pension fintech that enables employees to actively plan their ideal retirement has raised £1.8m in seed funding in a 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 wider pensions services ecosystem.
With the global workforce moving toward greater financial autonomy, driven by the rise of self-employment and the gig economy, it is expected that more than 50% of the global workforce will 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 than ever.
Jarvis offers a complete retirement planning solution through two main components: Jarvis Pension and an app. Jarvis Pension includes both personal and corporate “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 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. By integrating with payroll systems via its API, Jarvis 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’ve seen the stark contrast between those who can afford ongoing financial advice and the majority who can’t. 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. Traditional advice often focuses on saving for a rainy day, but we understand that people want to live a fulfilling life today. Our platform helps users balance enjoyment today with security for the future. This investment will support our continued growth as we integrate with the broader ecosystem.”
Emma Steele, partner at Ascension VC, said: “Jarvis is filling a critical gap in the market by offering essential retirement planning tools tailored for today’s workforce. We are excited to support Royden and the team as they continue to innovate and expand their offerings to meet the needs of today’s employees. We believe Jarvis has the potential to disrupt the retirement industry and set a new standard for retirement planning.”
Rodney Appiah, Managing Partner of Cornerstone VC, said: “We are proud to support Royden in his mission to transform retirement planning for the hybrid worker. As we all live longer, the need for dynamic, personalized technology in retirement has never been clearer. Jarvis recognizes this need and has developed an intuitive platform that provides employers with the tools to simplify retirement management and individuals with the insights to not only save for retirement, but shape it. We look forward to helping the team build the future of retirement with Jarvis.”