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.

The £200k funding will be used to support two new initiatives.

The first is Guiide+ which is an imminent update to Guiide’s existing 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 position Guiide+ as 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.

Following on from the planning tools to make drawdown safer and simpler for users is another development named 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.

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, said: “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.”