Penfold Secures £3.9m Investment to Expand UK Presence
Deal News | May 22, 2025 | UK Tech Funding
Digital pension provider Penfold has successfully raised £3.9 million in an investment round spearheaded by Gresham House Ventures. Penfold, established in 2018, is recognized as a pioneering platform for workplace pensions, utilizing its proprietary technology to offer solutions. It serves prominent clients including fintech powerhouse Paddle and San Francisco-based AI company Anthropic. The fresh infusion of capital is slated to bolster Penfold's presence in the UK SME and accountancy sectors while supporting the development of a new pension application. Chris Eastwood, Penfold's co-founder, views this investment as a validation of their mission to deliver superior pension solutions. The funding will be managed within the Baronsmead and Mobeus Venture Capital Trusts, overseen by Gresham House. Investment partner Rohit Mathur from Gresham House praised Penfold's market traction and expressed optimism about supporting the company's upcoming growth phase. Penfold has cumulatively raised over £15 million, including a previous £7 million Series A led by Bridford Group in 2022.
Sectors
- Financial Technology (FinTech)
- Pension and Retirement Services
Geography
- United Kingdom – Penfold is expanding its presence across the UK markets, focusing on SMEs and accountancies.
Industry
- Financial Technology (FinTech) – Penfold operates within the financial technology sector, offering digital pension solutions through its proprietary platform.
- Pension and Retirement Services – The company's core business revolves around providing innovative pension solutions, positioning it within the pension and retirement services industry.
Financials
- £3.9m – The amount raised in the latest investment round led by Gresham House Ventures.
- £15m – The total funding raised by Penfold since its inception, including the latest round.
- £7m – The amount raised in Penfold's Series A investment round in 2022.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Penfold | Target Company | Company | A digital pension provider offering innovative pension solutions through its proprietary platform. |
| Gresham House Ventures | Investor | Company | A UK-based private equity investment firm leading the funding round for Penfold. |
| Chris Eastwood | Co-founder of Penfold | Person | Co-founder of Penfold, involved in strategic decisions and public communication. |
| Rohit Mathur | Investment Partner at Gresham House Ventures | Person | An investment partner involved in the funding round and future development plans with Penfold. |
| Paddle | Corporate Client | Company | A fintech group that is a corporate client of Penfold. |
| Anthropic | Corporate Client | Company | A San Francisco-based AI company and a corporate client of Penfold. |
| Baronsmead Venture Capital Trust | Investor | Company | A venture capital trust where the investment will be held. |
| Mobeus Venture Capital Trust | Investor | Company | A venture capital trust where the investment will be managed. |
| Bridford Group | Investor | Company | Led Penfold's £7 million Series A investment round in 2022. |