Chest
Chest is a UK mobile-first SIPP pension platform targeting Gen Z and Millennial savers, converting everyday spending from 120+ brand partners into retirement savings via automated cashback routed into L&G-managed funds, with Chest Score, round-ups, and pension consolidation features.
- Company typePrivate
- Founded2024
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Chest does
Chest Group Limited (trading as Chest) is a UK-based fintech that operates a mobile-first Self-Invested Personal Pension (SIPP) targeting Gen Z and Millennial savers, with a secondary proposition for self-employed and freelance contributors. The core mechanic converts everyday spending into retirement savings: users earn cashback from a network of 120+ brand partners (fronted by Tillo) and that cashback is routed automatically into their SIPP, boosted by government pension tax relief (25% for basic-rate taxpayers, more for higher-rate). Underlying investments are run through six Legal & General-managed funds (three core, three ESG alternatives) with OCFs of 0.08%-0.29%, giving customers access to institutional-grade share classes inside a consumer app.
The product surface is mobile-first and self-serve, with no field sales or third-party distribution. Key features include Chest Score (a proprietary 1,200-point pension readiness assessment benchmarked against PLSA Retirement Living Standards), smart saving rules (round-ups and automated contributions), pension consolidation from old workplace pots, and a cashback calculator with multi-scenario compound growth projections. The architecture is a thin SIPP wrapper: RiskSave Technologies Ltd provides the FCA principal permissions (FRN 775330), Quai Digital handles SIPP administration, GoCardless processes direct debits, Tillo powers cashback, and L&G provides the fund menu. Chest is FCA-registered as an appointed representative (firm reference 1045044) and is registered in England (No. 15923634) at 124 City Road, London.
The business model is a recurring percentage-of-AUM platform fee of 0.45% (reducing to 0.20% above £100,000) layered on top of L&G fund fees, giving a total annual customer cost of 0.53%-0.74% for standard balances and 0.28%-0.49% for high-value balances. A second revenue stream is retailer commission on cashback purchases, part of which funds the cashback service while customers pay zero fees on cashback earned. Distribution is digital self-serve (mobile app + joinchest.com), supported by a waitlist with 2,500+ community members, a referral programme with leaderboards and milestone rewards, an SEO-driven educational blog, and earned media in This Is Money, City AM, Fintech Finance News, and The Fintech Times. As of the available data the company is pre-launch with 1-10 employees and undisclosed revenue, having received a single funding event from Baltic Ventures on 2025-09-08.
Chest firmographics
Firmographics- Name
- Chest
- Legal name
- Chest Group Limited
- Website
- https://www.joinchest.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Chest is a UK mobile-first SIPP pension platform targeting Gen Z and Millennial savers, converting everyday spending from 120+ brand partners into retirement savings via automated cashback routed into L&G-managed funds, with Chest Score, round-ups, and pension consolidation features.
- Ownership category
- akta.pro rank
Chest industry classification
Industry- Product category
- Self-Invested Personal Pension
- NAICS
- Pension Funds (525110), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD)
Keywords
Where Chest is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Chest business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Platform and Investment Fees: Chest charges an annual platform fee of 0.45% of the pension pot (reduced to 0.20% for balances over £100,000) for running the Chest account, app, Chest Score, saving tools, and cashback access. Combined with L&G fund management fees of 0.08%-0.29%, total annual cost ranges from 0.53%-0.74% (or 0.28%-0.49% for balances over £100,000). No fees are charged on cashback earned — retailers pay commission on purchases, and Chest uses part of that commission to run the service.
- Retailer Commission on Cashback: Retailers pay a commission on purchases made through the Chest platform. Chest uses part of that commission to fund the cashback service. Users receive the full cashback rate shown in the app with no fees deducted from cashback.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Standard tier: 0.45% platform fee + 0.08%-0.29% fund management fee = 0.53%-0.74% total annual cost |
| Subscription | Annual | High-value tier: 0.20% platform fee + 0.08%-0.29% fund management fee = 0.28%-0.49% total annual cost |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Chest product offering
Product offeringCore offering
Chest operates a mobile-first Self-Invested Personal Pension (SIPP) platform that converts everyday spending into pension savings via integrated cashback rewards from 120+ retail brand partners. Users earn an average cashback rate of 8% on shopping, with proceeds automatically directed into their SIPP and boosted by 25% government tax relief. The platform also provides pension consolidation tools, automated saving rules (round-ups), and the proprietary Chest Score (out of 1,200 points) to assess retirement readiness.
Product overview
Chest is a mobile-first pension platform built around a unified SIPP (Self-Invested Personal Pension) product. The core offering combines a SIPP pension with cashback rewards (average 8% from 120+ brands), supported by six L&G-managed investment funds (three core, three ESG). Key integrated features include Chest Score (pension wellbeing scoring out of 1,200), Smart Saving Rules (automated round-ups), and Pension Consolidation. The platform charges 0.45% platform fee plus 0.08%-0.29% fund management fees, with no fees on cashback. Users access the service via mobile app with FCA-regulated status under RiskSave Technologies Ltd.
Differentiator
Problem solved
Functional benefit
Products and services
- Chest SIPP (Self-Invested Personal Pension) A mobile-first Self-Invested Personal Pension that allows UK savers to save for retirement by earning cashback on purchases from 120+ retail brand partners, with proceeds automatically directed into pension savings and boosted by 25% government tax relief.
- Cashback Rewards Programme A cashback programme offering an average 8% reward rate across 120+ retail brands. Cashback earnings are directed automatically into the user's Chest SIPP with no fees charged on cashback; retailer commissions fund the rewards.
Quantifiable outcome
- 8% average cashback rate across 120+ brand partners (6% for non-consolidated users)
- +2 more outcomes
Companies that use Chest
Customer profileSegments2 records
Ideal customer profiles2 records
Chest technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Chest partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- TillocoreChest has partnered with Tillo, a global gift card and rewards platform, to power cashback rewards for its pension app. Through the integration, Chest users earn cashback when shopping with popular brands via Tillo's gift card and rewards infrastructure, and can automatically direct those rewards into their pension savings. The partnership combines lifestyle spending with retirement savings and was announced in March 2026 from Brighton and Hove, UK.
- Legal & General (L&G)coreChest has partnered with Legal & General, one of the UK's largest and most established asset managers managing around £1.1 trillion in assets. L&G provides the investment funds underlying Chest's SIPP. The partnership offers six focused funds (three core and three ESG alternatives) with institutional-grade share classes and low costs passed directly to Chest users. Funds include L&G Global Equity Index Fund, L&G Multi-Index funds, and ESG variants.
- RiskSave Technologies LtdcoreRiskSave Technologies Ltd is Chest Group Limited's principal firm, authorised and regulated by the FCA (firm reference number 775330). Chest operates as its appointed representative under FCA regulations. RiskSave provides the regulatory permissions and framework under which Chest offers its SIPP services.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Chest competitors and assessment
Company assessmentEmerging players
- Wealthsimple: Canadian digital wealth platform expanding to the UK with low-fee investing and savings products for younger consumers. Comparable in mobile-first UX and Gen Z / Millennial focus, though broader than pensions.
- Yonder: Early-stage UK fintech building a consumer-focused pension and investing app. Closely comparable to Chest in terms of stage, mission, and target demographic.
Direct peers
- PensionBee: UK-listed direct-to-consumer SIPP platform with the largest retail SIPP customer base. Operates an entirely digital, self-serve model targeting consumers consolidating old workplace pensions — the same core use case Chest targets.
- Penfold: UK digital pension provider targeting self-employed professionals and modern savers with a mobile-first app. Closely comparable on target demographic and digital SIPP model, though without a cashback mechanic.
- Moneybox: UK consumer fintech combining round-up savings with ISA and pension products on a mobile-first platform. Directly comparable to Chest's round-ups saving mechanic and Gen Z / Millennial target segment.
- Cushon: UK workplace and personal pension provider that has integrated cashback and rewards into pension saving — the most direct competitor to Chest's specific cashback-to-pension mechanic.
Broad incumbents
- Smart Pension: UK workplace pension provider serving hundreds of thousands of employees via employer schemes. Represents the bulk of UK pension pots that Chest wants to consolidate into its individual SIPP.
- Nutmeg: JPMorgan-owned UK digital investment and pension platform. Overlaps with Chest in digital SIPP wrappers and target demographic, but operates at much greater scale and broader product scope.
- AJ Bell: One of the UK's largest SIPP and ISA platforms with extensive fund choice and established brand. Competes with Chest for self-directed pension savers, though its UX is more traditional.
- Hargreaves Lansdown: The UK's largest direct-to-consumer investment platform with a major SIPP franchise. Indirect incumbent competitor for any UK consumer consolidating pension savings, with significantly greater brand trust and AUM.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Chest social profiles
Digital presenceChest compliance and trust
Trust signalCompliance1 record
Chest financial estimates
Financial estimateRevenue estimate
Valuation estimate
Chest leadership team
Management profileNumber of profiles
Chest funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Chest M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Chest
What does Chest do?
Chest operates a mobile-first Self-Invested Personal Pension (SIPP) platform that converts everyday spending into pension savings via integrated cashback rewards from 120+ retail brand partners. Users earn an average cashback rate of 8% on shopping, with proceeds automatically directed into their SIPP and boosted by 25% government tax relief. The platform also provides pension consolidation tools, automated saving rules (round-ups), and the proprietary Chest Score (out of 1,200 points) to assess retirement readiness.
Is Chest a public or private company?
Chest is a private company. It is classified as unknown and is currently operating.
When was Chest founded?
Chest was founded in 2024. It employs 1 to 10 people.
Where is Chest based?
Chest is headquartered in London, United Kingdom, in the Europe region.
How does Chest make money?
Two revenue lines are on record. Platform and Investment Fees are the primary driver. The others are retailer Commission on Cashback.
Who are Chest's main competitors?
Emerging players on record are Wealthsimple and Yonder. Direct peers are PensionBee, Penfold, Moneybox and Cushon. Broad incumbents are Smart Pension, Nutmeg, AJ Bell and Hargreaves Lansdown.
Does Chest have an API?
No public API is recorded for Chest.
What industry is Chest in?
Chest's product category is Self-Invested Personal Pension. Its primary akta.pro industry code is FSAGAAAD, Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value). Its NAICS code is 525110 and its SIC code is 6199.