Cushon is the fintech serving to extra individuals construct a monetary future price saving for by means of the world’s first web zero pension. Earlier this week they made the headlines once more, saying an acquisition by the NatWest Group (topic to regulatory approval).
The acquisition will present an exit alternative for Seedrs buyers, with the earliest buyers seeing as much as a 5x return (earlier than adjustment for tax reduction). Meaning we’re set to distribute slightly below £7m in returns to our buyers.
It’s been a fast rise for Cushon since launching in 2017. Simply 5 years on they’ve helped over 500,000 individuals save over £1.8bn in the direction of retirement, first houses, and extra. That’s not all — they’re additionally doing important work throughout the monetary wellbeing house, partnering with UK employers, together with many FTSE 100 firms, to construct up wholesome financial savings habits at scale.
The NatWest Group is to amass an 85% majority shareholding in Cushon with the corporate’s present administration retaining the remaining 15%. It’s the forty ninth exit for Seedrs buyers, the second in 2023, with exits from Seedrs, Stagedoor, Fiddlesticks, Swogo and Zeigo during the last 12 months.
Kirsty Grant, Seedrs Managing Director, highlighted the worth this delivered for Seedrs buyers:
“The Seedrs group is over the moon for Ben, Phil and the Cushon group. Their development trajectory has been extremely spectacular — and never least as a result of they’re tackling actual world monetary wellbeing points which have been magnified by the present value of residing disaster. We’re delighted to see an organization that Seedrs buyers have supported many occasions over reward them with a powerful return on their investments.”
Phil Hollingdale, Co-founder of Cushon:
“Cushon has raised capital with Seedrs yearly since our launch, with 5 rounds of funding persistently overfunding, giving entry to over 1,400 buyers to affix Cushon on our journey. Many of those buyers have been sturdy ambassadors, usually introducing us to potential purchasers and changing into prospects themselves. We’ve got been very happy with the entire expertise with Seedrs and I’ve really useful them to different early stage tech firms in my portfolio”.
The sturdy help from Seedrs buyers is a testomony to Cushon’s imaginative and prescient and their compelling pitch. Traders that recognized the chance within the earliest rounds are set to see a formidable 5x return on their funding.
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