Penny, a FinTech based in Bristol, has raised £4mn in Seed funding.
In Brief:
Penny aims to help customers gain clarity over their pension pots.
The mobile app allots customers to track pensions and use automation to combine them into one account.
Investors include Google’s Gradient Ventures, and Monzo Founder Tom Blomfield.
What does this mean?
The latest funding gives Penny a valuation of around £27.8mn - it plans to expand its offering into areas such as crypto trading, and will look into US expansion.
