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August 14, 2025

Source: CIBC Innovation Banking

CIBC Innovation Banking has announced that it served as lead arranger and agent for a £60 million credit facility to Smart, the London-based fintech delivering retirement savings technology on a global scale. The capital will be used to fuel Smart’s ongoing growth initiatives and capitalise on opportunities in the UK’s rapidly consolidating market.

Smart operates as a global savings and investments technology provider, enabling employers to seamlessly enrol staff and manage retirement savings. Its flagship product, Keystone, is a cloud-native, workplace retirement savings platform with worldwide reach. In addition, Smart owns and manages one of “the big four” UK auto-enrolment master trusts — the Smart Pension Master Trust — which supports more than 1.5 million savers and over 90,000 employers.

Eoin Corcoran, Chief Financial Officer, Smart, said: “We are delighted with the growth we’ve achieved in recent years alongside the important milestone of becoming a profitable business. CIBC Innovation Banking has been an important part of our journey since 2022 and their ongoing support will enable us to continue developing innovative solutions to help employees around the world save more effectively for retirement. This facility will also help us take advantage of opportunities that will come as the UK market consolidates at a rapid pace.”

Sean Duffy, Managing Director & European Market Lead, CIBC Innovation Banking, said: “Smart’s modern technology, coupled with sector expertise, is the factor for its success to date in the retirement and pension industry. We are thrilled to continue supporting the Smart team on its mission to help transform retirement, savings and financial well-being for employees, employers, financial institutions, and governments globally.”