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Founders Pete Hykin, Stuart Robinson, and Chris Eastwood set up Penfold in 2018. After working in the financial industry, the trio agreed that there was a clear gap in the market for a pensions company that served them better than the confusing, jargon-filled providers on the market.

After FCA authorisation in May 2019, Penfold has since grown to 10,000 active members, raising a total investment of £5.5million from a combination of angel investors and venture capital firms.

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