Fintech ClearGlass Analytics closes £2.6m funding round

by Startacus Admin

ClearGlass Analytics, the fintech which has captured half of the pensions market in 2 short years, announces a major seed investment round as it brings a level of transparency previously unseen in the pensions industry

The innovative fintech ClearGlass Analytics which has captured half of the pensions market in 2 short years, announces a major seed investment round as it brings a level of transparency previously unseen in the pensions industry

There is a £9.5trillion governance and communication problem in the financial asset management world as big finance, and the clients of big finance, don’t always communicate effectively.  Industry transparency is a serious issue in the financial asset management world and fintech startup ClearGlass Analytics is aiming to address that as it delivers greater accountability to pension funds and the wider asset management market. 

Founded by Dr Christopher Sier, World Bank and FCA expert and tech experts Ritesh Singhania and Kunal Varma, ClearGlass is on a mission to promote fee transparency in the long-term savings market through its digital platform.  

A Founders Factory accelerator alum, ClearGlass acts as the data interface between asset managers and their clients, offering pension funds a digital platform where they can see all of their investment costs in one place. It allows its clients, pension funds, to get much more data from more asset managers and other suppliers, which helps them see the true cost of what they are paying for the management of their investments. 

Initially targeting the £1.5trillion mature Defined Benefit pension schemes market, ClearGlass has helped both asset managers and pension funds communicate more effectively over costs. 

This latest investment will support ClearGlass’s plans to further expand into the UK Defined Contribution pension market, and consolidate its early footprint in Europe and Africa. The company also plans to leverage the enormous network it has created in order to collect other data and build new and ever more useful Value-for-Money assessment tools for pensions.

Dr Christopher Sier, founder and CEO of ClearGlass, said, “Finding your costs are so much larger is shocking, but also something to be celebrated. These incremental costs were always there, they just weren’t exposed, and now you can identify those and bring about change. You can’t manage what you don’t measure.”

Tim Giles, EMEA MD of Aon Investments said “We’ve been working with ClearGlass since launch and not only have they improved our productivity by doing the data chasing for us, but the analysis they have produced has been of material benefit to many Aon clients. This new funding is great news as it will give Chris and the team what they need to expand into Europe and to develop their service. We look forward to continuing to work with them.”

ClearGlass is a fintech that’s most certainly going from strength to strength!

If you’re interested in all that’s happening in the world of fintech investments, why not check out these recent articles on Countingup  and PayDashboard.

 

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Published on: 5th March 2021