Penfold, the digital pensions provider, today announced the launch of its latest crowdfunding round, following a period of significant growth. The early access launch is now open and individuals can register for this via Penfold’s crowdfunding page, with the round opening to the general public on February 27th. Penfold’s last crowdfund in 2022 sold out just hours after going live.

Penfold is on a mission to disrupt the £8trn pensions industry, enabling more people to save for later life by providing a purpose-built platform that delivers a class-leading user experience. Penfold gives savers more control of their pensions by increasing the visibility of their savings and investments while providing fantastic customer service. 

Since its inception in 2019, Penfold’s customer base has grown to more than 62,000 savers with over £350m of assets. Building on its success in the direct-to-consumer and workplace pensions market, in 2023 the company launched the Penfold Platform, specifically designed to offer a simplified and intuitive pension processing solution for accountants.  

This round of crowdfunding is being opened to increase the company’s growth and secure its path to profitability. In addition to continuing to grow its popular workplace pension, Penfold is also aiming to make improvements to its app and further invest in its customer service capabilities for all its customers.

Chris Eastwood, Co-Founder at Penfold, comments: 

“Our mission is to encourage more people to save for later life by providing a simple way to access and save into their pension. More savers want a pension that they can easily use and understand, which is why we have achieved such impressive growth recently. This latest round of crowdfunding will enable us to maintain this growth while providing the capital needed to return the Penfold team to profitability. Our last crowdfunding round was a huge success and it’s fantastic to have a community of engaged investors who support our goal to get people saving more so they can have the retirement they deserve.”