Cushon is the fintech helping more people build a financial future worth saving for through the world’s first net zero pension. Earlier this week they made the headlines again, announcing an acquisition by the NatWest Group (subject to regulatory approval).
The acquisition will provide an exit opportunity for Seedrs investors, with the earliest investors seeing up to a 5x return (before adjustment for tax relief). That means we’re set to distribute just under £7m in returns to our investors.
It’s been a rapid rise for Cushon since launching in 2017. Just five years on they’ve helped over 500,000 people save over £1.8bn towards retirement, first homes, and more. That’s not all — they’re also doing essential work within the financial wellbeing space, partnering with UK employers, including many FTSE 100 companies, to build up healthy savings habits at scale.
The NatWest Group is to acquire an 85% majority shareholding in Cushon with the company’s existing management retaining the remaining 15%. It’s the 49th exit for Seedrs investors, the second in 2023, with exits from Seedrs, Stagedoor, Fiddlesticks, Swogo and Zeigo over the last 12 months.
Kirsty Grant, Seedrs Managing Director, highlighted the value this delivered for Seedrs investors:
“The Seedrs team is over the moon for Ben, Phil and the Cushon team. Their growth trajectory has been incredibly impressive — and not least because they’re tackling real world financial wellbeing issues that have been magnified by the current cost of living crisis. We’re delighted to see a company that Seedrs investors have supported many times over reward them with a strong return on their investments.”
Phil Hollingdale, Co-founder of Cushon:
“Cushon has raised capital with Seedrs every year since our launch, with 5 rounds of investment consistently overfunding, giving access to over 1,400 investors to join Cushon on our journey. Many of these investors have been strong ambassadors, often introducing us to potential clients and becoming customers themselves. We have been very pleased with the whole experience with Seedrs and I have recommended them to other early stage tech companies in my portfolio”.
The strong support from Seedrs investors is a testament to Cushon’s vision and their compelling pitch. Investors that identified the opportunity in the earliest rounds are set to see an impressive 5x return on their investment.
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