Natixis IM invests in UK savings fintech Smart
Smart, a leading savings technology platform and UK fintech company, and Natixis Investment Managers (Natixis IM), one of the world's largest asset management firms, today announced that Natixis IM has made a strategic investment in Smart, combining their expertise to develop and deliver leading workplace pension market solutions in the UK and globally.
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Since its launch in 2014, Smart has grown rapidly, helping tens of thousands of UK employers meet their auto enrolment obligations, as well as providing workplace savings technology solutions in Dubai and the Republic of Ireland. Natixis IM's equity stake forms a part of Smart's ongoing preferred investment round and will help position the fintech for rapid international expansion as it looks to enter the United States and Australian markets. It follows on Smart's recently announced strategic partnership with Link Group, one of the largest Australian Super Fund administrators.
Commenting on the investment, Andrew Evans, CEO, Smart, said: "We are really proud to welcome Natixis Investment Managers as a strategic investor in Smart. Natixis IM shares our vision of utilising digital technologies to help improve outcomes for all savers, and we look forward to working with Natixis IM as we build our platform to power the pensions of the future. Having access to their broad suite of affiliate investment capabilities will help us develop ever more innovative investment solutions for our members, including the use of illiquid alternative solutions. Natixis IM's strategic investment supports our ambitious international growth plans as we look to branch out into the United States and Australia following our successful platform deployments in Dubai and the Republic of Ireland implemented earlier this year."
Jean Raby, CEO, Natixis Investment Managers, added: "Natixis IM's equity investment will help accelerate our growth in Defined Contribution pension markets in the UK and globally while also helping to support the global growth of Smart through the wide range of investment capabilities of our affiliated managers, particularly in alternative strategies. This investment is part of the ongoing commitment by Natixis IM to focus on the types of innovative platforms and business models that are leading change across our industry."
Natixis IM joins Link Group, the leading administrator in the Australian superannuation market, Legal & General Investment Management, and J.P. Morgan as equity investors in Smart.