Jarvis secures £1.8m to empower workers to know exactly when to retire

July, 2024 – Jarvis, a pension fintech that empowers employees to plan for their ideal retirement lifestyle, has raised £1.8 million in seed funding in a round co-led by Cornerstone VC and Ascension VC with participation from Tokyo Marine Future Fund.

• Jarvis has closed a £1.8m seed round to simplify pensions and offer retirement guidance for the growing hybrid workforce.
• The investment will accelerate product development and deepen partnerships within a wider ecosystem of pension-related services.
• ⁠Founded in 2022 by Royden Greaves a former wealth management firm founder and partner.

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 to today’s worker, making the need for comprehensive retirement planning tools more important than ever.

Jarvis offers a retirement planning solution through 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, 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.” Royden added.

Rodney Appiah, Managing Partner at Cornerstone VC, said:

“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 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”

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.”

For more information visit Jarvis.