Cushon raises GBP 26 mln in funding round

Leading the GBP 6 million equity raise is the fintech venture capitalist, Augmentum Fintech, which also includes Tide, interactive investor and Habito in its portfolio. A further GBP 20 million in credit facility has been committed from AshGrove Capital, a pan-European lending company.

This raise enables the acquisition of Construction First Limited, scheme funder of the Workers Pension Trust (WPT) scheme. WPT is an auto-enrolment MT in Northern Ireland where it supports over 5,000 employers and more than 110,000 employees with pension investments of more than GBP 330 million.

According to the official press release, the funding will also be used to support further acquisitions, scaling capability and product innovation.