Guiide, set up by pensions actuary Kevin Hollister, said it had raised the fresh funding from existing investors. It has also strengthened its team with the addition of two directors and a “highly experienced” adviser.
The two new directors are Clare Hawkins, a former NHS trust chief executive, who will lead on governance, and Stewart Lawrie, an experienced financial systems developer, who will lead the development team for the future.
Meanwhile, Mike Robins, former partner at 3i, who is said to possess a “wealth of knowledge on capital funding and small business growth”, has joined the financial technology firm as a board adviser.
Hollister said: “Retirement is no longer just about pensions. Our continued goal is to use tech to simplify the mystifying subject that is retirement planning and later life products. We believe a ‘put it all together and do it for me’ approach is the optimal route for the non-advised mass market to get the best retirement outcome.”
The funding will be used to support new initiatives including a full retirement dashboard showing real-time values for a person’s pensions, and all other sources of income and savings. The dashboard will be accompanied by Guiide’s tracking tools showing how a person’s long-term plan is affected as they draw income and as their live pension pot values vary over time.
The technology results from more than 25 years of experience in the pensions sector.