Yonder signs deal with UK pension provider Smart Pension

Irish-founded platform Yonder has signed a deal with UK workplace pension provider Smart Pension to bring its services to international employers and their UK-based employees.

The company, which launched earlier this year and is aiming to simplify health and pension benefits for global businesses and employees through the use of a 100 per cent digital platform and app, said the deal was the first step in creating a comprehensive UK employee benefits package that is easy to scale.

Using Yonder, companies and their UK-based employees will be able to easily administer and enrol in a workplace pension, complying with UK auto-enrolment law.

“Making retirement accessible is a priority for us; this partnership and technology integration really supports this,” said Chris Glanton, director of strategic partnerships at Smart Pension. “Our pension platform supports SMEs to those with tens of thousands of employees, so it’s perfect to support the range of clients Yonder has.”

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Yonder’s platform aims to remove barriers to access to benefits on a global scale, making it simple for businesses to provide benefits, such as health insurance and pensions, regardless of where employees are based. Employers can create packages easily, while employees can use it to secure local health and retirement benefits. People enroll through a mobile app and manage benefits from local providers in real time.

“After the success of our workplace pension partnership in Ireland, we were keen to support UK-based employees quickly, and Smart Pension is the perfect fit for us,” said Luke Mackey, co-founder and chief executive of Yonder. “Their digital-first and infrastructure-first approach to pensions aligned with our core values.“

Founded in 2022 by Mr Mackey, chief technology officer Patrick O’Boyle and director of engineering Deepak Baliga, Yonder already has a number of partnerships with insurance and investment providers that offer health, dental, vision and pensions benefits. In March, it announced it had signed a deal with Irish Life to help companies and their Irish-based employees access health insurance and retirement benefits.

Last year, Yonder raised $2.6 million (€2.4 million) in pre-seed funding to accelerate product development and expand its engineering and product teams.

The funding round was led by Northzone and Dublin-based Frontline Ventures, with Cocoa, Broadstone, Uncommon Projects and angel investors also participating.