New York based provider of guaranteed income retirement solutions raised a $2.75m seed round led by Green Visor and NextView Ventures, with participating from Core Innovation Capital.
The company's flagship product is the Personal Pension, a guaranteed paycheck that lasts as long as you live. It's more accessible than traditional annuities because the Personal Pension is purchased over time in manageable installments. And unlike traditional pensions, the Personal Pension doesn't require your employer to sponsor the plan. Today's $27 trillion U.S. retirement market is in desperate need of innovation. Nearly 2/3 of Americans feel anxious about having enough money to live comfortably in retirement, according to AARP. As of 2016, half of working-age households are at risk of being unable to afford their current standard of living in retirement, according to the Center for Retirement Research. And that's despite being in the midst of the longest bull market in a generation.