Guiide founder Kevin Hollister

The past year has seen Guiide grow from offering an online free consumer site only to providing bespoke versions of its platform to master trusts, employers, financial advisers.

These licences have provided Guiide with its first significant revenue. Adding to this, this new additional funding round will allow it to develop its existing propositions further.

Primarily the funding will be used to develop Guiide+, an extension to its free online pension modelling tools.

The firm said a key feature of the new extension, the Dashboard and Track function, will be “the first fully holistic retirement dashboard, allowing users to include live pension pots values, along with non pension savings and income all in one place”.

Kevin Hollister, founder of Guiide, said: “Our continued goal is to simplify the word ‘pensions’, for as many savers as possible, helping them understand how to get the best retirement outcome and protecting them against bad outcomes at no cost to them and the recent funding round will support Guiide to achieve this goal.”