Smarterly, the investment platform which targets workplace savings and investments, has already received backing from Unum, which owns a stake in the business.
It is using the crowdfunding site Seedrs, which has already raised finance for other fintech businesses such as Perkbox and Revolut, for its latest funding round.
Smarterly, founded by Ben Pollard (pictured) has made significant inroads into the workplace savings market, becoming the preferred investment retail platform for Aon.
It also recently launches a workplace Isa with Neyber, with platform charges of 0.4 per cent. The workplace Isa allows employees to save directly from their salary, at no cost to the employer, into risk-graded portfolios.
The Smarterly proposition offers a service called SmarterCare, an automated monitoring tool that alerts the employee if there are any notable changes to the holdings in their portfolio, and suggests actions to remedy situations where the investor’s strategy has been driven off course.