Cushon raises £35m and announces third acquisition

UK workplace savings FinTech Cushon has closed a £35 million fundraising round and announced its third acquisition.

This brings the total raised over the past two years to £61 million.

The new capital is being used to fund its latest acquisition, scale operational capability, and invest in technology and product development.

Cushon is acquiring the Creative auto-enrolment scheme which is Cushon’s third acquisition in two years and will mean the company is now responsible for £1.7bn of assets across 400,000 customers.

“Our mission is to offer UK savers a convenient, climate-friendly, and great value way to save, through a combination of cutting-edge technology and socially responsible investments,” said Ben Pollard, chief executive and founder, Cushon. “Right now, workplace pensions are simply too complicated, boring, and disconnected from things people care deeply about. Cushon is here to change that, and today’s announcement is a hugely significant milestone for us.

“The funding will continue to fuel Cushon’s growth, enable us to scale even faster, and accelerate some exciting new features within our app.”

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