Chrysalis emerges with £75m stake in Smart pensions platform

Chrysalis emerges with £75m stake in Smart pensions platform

A frenzy of capital-raisings by UK-based financial technology companies will continue this week when a prominent London-listed fund manager takes a £75m stake in Smart, the retirement savings platform.

Sky News has learnt that Chrysalis Investments, which has backed companies including buy-now-pay-later lender Klarna, Starling Bank, the digital lender, and the cross-border payments app Wise, will announce on Monday that it has made the equity investment in Smart.

Chrysalis's stake will form part of a £165m Series D funding round, of which £110m comprises the issuance of new shares to investors.