Cushon is the fintech serving to extra individuals construct a monetary future value saving for via the world’s first web zero pension. Earlier this week they made the headlines once more, asserting an acquisition by the NatWest Group (topic to regulatory approval).
The acquisition will present an exit alternative for Seedrs traders, with the earliest traders seeing as much as a 5x return (earlier than adjustment for tax reduction). Meaning we’re set to distribute just below £7m in returns to our traders.
It’s been a speedy 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 inside the monetary wellbeing area, partnering with UK employers, together with many FTSE 100 corporations, to construct up wholesome financial savings habits at scale.
The NatWest Group is to accumulate an 85% majority shareholding in Cushon with the corporate’s current administration retaining the remaining 15%. It’s the forty ninth exit for Seedrs traders, 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 traders:
“The Seedrs staff is over the moon for Ben, Phil and the Cushon staff. Their progress 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 traders have supported many instances 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 constantly overfunding, giving entry to over 1,400 traders to affix Cushon on our journey. Many of those traders have been robust ambassadors, usually introducing us to potential purchasers and turning into clients themselves. Now we have been very happy with the entire expertise with Seedrs and I’ve advisable them to different early stage tech corporations in my portfolio”.
The robust help from Seedrs traders 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 powerful 5x return on their funding.
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