Scottish fintech Guiide has raised new investment of around £200K and welcomes three new additions to the team.
Guiide is delighted to announce it has raised this new money from existing investors. It has also strengthened its team with the addition of two new Directors and a highly experienced adviser.
The two new Directors are Clare Hawkins, a former NHS Trust Chief Executive, who will lead on governance and Stewart Lawrie, an experienced financial systems developer, who will lead our development team for the future.
Additionally, Mike Robins, former partner at 3i, who has a wealth of knowledge on capital funding and small business growth, has joined Guiide as a board adviser.
New initiatives – Guiide +
The funding will be used to support two new initiatives.
The first is Guiide+, launching soon. This is an addition to our free online service for registered users. The centrepiece of this development will be a full retirement dashboard showing real-time values for a person’s pensions, and all other sources of income and savings.
The dashboard will be accompanied by Guiide’s tracking tools showing how a person’s long-term plan is affected as they draw income and as their live pension pot values vary over time.
Guiide+ will also be modelling and supporting more complex and detailed retirement income inputs, including equity release, guaranteed income, and partner income. This will make Guiide+ the “holding hand” tool to be used through to the ‘end’ of retirement for later life income planning and support, particularly for the non-advised mass market.
A natural follow-on from the planning tools is to make drawdown safer and simpler for users via Guiide.auto.
A collaboration with a tech-focused pension provider and a guaranteed income provider, Guiide.auto will pay plans built with Guiide automatically by default until changed. It will allow individuals to monitor, track and adjust plans and add an element of guaranteed income paid into the pension pot if desired, whilst still maintaining all the flexibility of drawdown.
Guiide.auto is the “put everything together and do it for me” option that we believe the non-advised market needs. This has been a popular concept with Guiide users, with hundreds of registrations of interest for the product launch in November 2022.
Kevin Hollister, Founder of Guiide, stated: “Retirement is no longer just about pensions. Our continued goal is to use tech to simplify the mystifying subject that is retirement planning and later life products. We believe a ‘put it all together and do it for me’ approach is the optimal route for the non-advised mass market to get the best retirement outcome.”