London-headquartered Jarvis, a pension fintech that empowers employees to plan for their ideal retirement actively, has raised £1.8 million in seed funding. The round was co-led by Ascension VC (which invested in Heatio and Gendo) and Cornerstone VC, with participation from Tokio Marine Future Fund.
The investment will support growth and product development as it integrates with the broader ecosystem of pension-related services.
What challenge does it tackle?
With the global workforce shifting towards greater financial autonomy, driven by the rise of self-employment and the gig economy, more than 50% of the global workforce is projected to be self-employed by 2028. Traditional workplace benefits like pensions are becoming less accessible, making the need for comprehensive retirement planning tools more important than ever. This is where Jarvis comes into the picture with its comprehensive retirement planning solution.
What does the company do?
Founded by Royden Greaves, Jarvis is an auto-enrolment workplace pension provider transforming the way people think about pensions and retirement in the UK. It empowers users to actively shape their retirement. By delivering clear, actionable insights into each user’s unique retirement journey, Jarvis helps users finally answer the question “When can I retire and live my desired lifestyle?”
Its solution has two main components – the Jarvis Pension and an app. The Jarvis Pension includes both personal and workplace “jars,” allowing users to manage their pensions and contributions in one place. The app provides real-time insights into retirement goals and simplifies pension management, including setting retirement budgets, planning joint retirements, consolidating old pensions, and adjusting investment risk profiles. It also integrates broader financial data such as cost of living, tax rates, and inflation.
For employers, Jarvis provides a financial wellness solution, including an auto-enrolment workplace pension designed for the modern workforce. By integrating with payroll systems through its API, Jarvis enables seamless reconciliation of payroll data, simplifying financial management for both employers and employees.
Royden Greaves, CEO and Founder of Jarvis said: “Over my 15 years in the wealth management space, I’ve seen the stark contrast between those who can afford continuous financial advice and the majority who cannot. This inspired me to create a solution accessible to everyone, regardless of their financial status. Jarvis is designed to provide clarity and empower individuals to enjoy their lives now while planning effectively for the future. Traditional advice often centres on saving for a rainy day, but we understand that people want to live fulfilling lives today. Our platform helps users balance current enjoyment with future security. This investment will support our continued growth as we integrate with the broader ecosystem.”
Emma Steele, Partner at Ascension VC said: “Jarvis is filling a crucial gap in the market by offering vital retirement planning tools tailored for today’s workforce. We are thrilled to support Royden and the team as they continue to innovate and expand their offerings to cater to the needs of modern employees. We believe Jarvis has the potential to revolutionise the pensions industry and set a new standard for retirement planning.”
Rodney Appiah, Managing Partner at Cornerstone VC added: “We are proud to back Royden in his mission to transform retirement planning for the hybrid worker. As we all live longer, the need for dynamic and personalised tech in the pensions industry has never been clearer. Jarvis recognises that need and has developed an intuitive platform that gives employers the tools to simplify pension management and users the information to not only save for retirement, but shape it. We look forward to helping the team build the future of pensions with Jarvis.
What do we think about Jarvis?
Disrupting the pension fintech landscape by offering comprehensive retirement planning tools tailored for today’s workforce, Jarvis empowers individuals to actively shape their retirement, balancing current enjoyment with future security. As it integrates with broader pension-related services, Jarvis will continue to provide valuable insights and solutions, setting new standards in the industry and significantly enhancing financial wellness for employees.
