Investment platform and workplace pension provider TILLIT is closing after failing to secure the funding it needed to continue operating.
The firm announced today (25 June) that, despite a strong product and loyal customer base, it had been unable to raise the capital required in the current funding environment.
TILLIT CEO and founder Felicia Hjertman said: “When we started TILLIT, our mission was to empower everyone to make great investment decisions – initially with their medium-term savings and more recently with their pensions.
“As a growing startup reliant on external investment, we are inevitably impacted by shifts in market conditions. Given the current funding environment, we’ve made the difficult but necessary decision to wind down the company.”
She added: “While this is a devastating outcome, I’m immensely proud of the product, service and team we built – and deeply grateful to our shareholders and customers who placed their trust in us.”
The company is now working with its custodian Seccl Custody, the Financial Conduct Authority and other partners to ensure an orderly wind-down process. Customers and employers have been notified and provided with guidance on next steps.
TILLIT’s platform will remain operational for a limited period to allow customers time to manage their investments and seek support.
Founded in 2019, TILLIT offered an open architecture investment platform across funds, ETFs and investment trusts. Its services included SIPPs, ISAs and GIAs, available both directly and via employers.
Last year, the firm launched a Sipp designed to shake up the ‘broken’ workplace pensions market.
