Tech valuations have been seeing a lot of downward pressure in the last year, even in cases where companies have been demonstrating growth. Smart said that group revenue in 2022 was \u00a367 million, up 65% compared to 2021. It also claims to have \u00a35.5 billion in Assets Under Management (AUM) on its platform and is on track to grow that to \u00a310 million by end of June 2023.<\/p>\n

\u201cThis investment is strong recognition of Smart\u2019s success and journey to date, and highlights the immense opportunity that lies ahead. It is also a resounding vote of confidence in the U.K.\u2019s fintech sector, and its leadership in financial services provision,\u201d co-founders Andrew Evans and Will Wynne said in a joint statement. \u201cWe are on a mission to transform retirement, savings and financial wellbeing\u2026 This is a $62 trillion global sector in the early stages of being disrupted, and we are uniquely positioned to take advantage of that. We have already reached scale and profitability in the UK, with Smart Pension now serving in excess of one million savers, and this backing allows us to achieve that scale and profitability in our global markets across the group. We welcome Aquiline to our board and we\u2019re incredibly excited for the years ahead.\u201d<\/p>\n