Chest Raises Seed Round for Pension Saving App

Chest, a London fintech founded in 2024, has raised a Seed round. The funding date is September 8, 2026. The company did not disclose the amount raised, and no lead investor or additional investors were named.

What the Company Does

Chest targets pension under-saving among Millennials and Gen Z. Its app turns cashback from more than 120 everyday brands, including Amazon, Sainsburys, and Starbucks, plus automated savings, into a SIPP pension invested with Legal & General. The goal is to make retirement saving effortless for people priced out of traditional contributions.

Founders and Structure

Chest was founded by Jason Murphy and Alastair (Ali) Adam. Chest Group Limited operates as an appointed representative of RiskSave Technologies (FCA registration 1045044). The company has raised initial funding from angel investors and has been supported by the Baltic Ventures and FinTech Wales accelerator programmes.

Why This Round Matters

Pension under-saving among younger adults is a persistent challenge, and Chest's model attempts to address it by embedding retirement contributions into everyday spending and saving habits. By converting cashback from familiar brands into a SIPP pension invested with Legal & General, the company aims to lower the friction that keeps many Millennials and Gen Z from contributing to traditional pension products.

The Seed round follows initial angel funding and participation in the Baltic Ventures and FinTech Wales accelerator programmes. While the amount and investor list were not disclosed, the round marks a step beyond the company's earliest backing as it builds out its app and proposition.

Acquisition Angle

For acquirers and strategic investors in fintech, wealth, and retirement infrastructure, Chest offers a consumer-facing distribution channel into a younger demographic that traditional pension providers often struggle to reach. Its cashback-to-pension mechanic creates recurring engagement through everyday brands, while the SIPP structure and relationship with Legal & General provide a regulated savings wrapper. The company's status as an appointed representative of RiskSave Technologies (FCA registration 1045044) indicates an existing compliance and permissions framework.

Key Facts

Company: Chest
Founded: 2024
Founders: Jason Murphy and Alastair (Ali) Adam
Headquarters: London
Round: Seed
Funding date: September 8, 2026
Amount: Not disclosed
Lead investor: Not disclosed
Additional investors: Not disclosed
Prior backing: Angel investors; supported by Baltic Ventures and FinTech Wales accelerator programmes
Product: App converting cashback from 120+ everyday brands plus automated savings into a SIPP pension invested with Legal & General
Regulatory status: Chest Group Limited operates as an appointed representative of RiskSave Technologies (FCA registration 1045044)

Outlook

The Seed round gives Chest additional capital as it works to scale a pension proposition aimed at Millennials and Gen Z. With a model built on cashback from major everyday brands and automated savings, the company is positioning retirement saving as a low-effort, habitual activity rather than a separate financial task.