Member Article

Investment in Newcastle-devised payroll and pension innovation

A technology idea, formed in Newcastle, has secured funding to develop its “payroll-to-pension” admin system and open up headquarters.

AutoEnroll.Me Ltd is being introduced to the market as automatic enrolment came into force on October 1 for some businesses.

Investment from the Finance for Business North East Angel Fund, managed by Rivers Capital Partners, will allow the firm to roll out its technology to the market.

An agreement with SIPP pension provider, Intelligent Money, will see AutoEnroll.Me integrate its technology into their systems.

Russell Bavinton, the managing director of AutoEnroll.Me Ltd, is the main architect of the system and brings over 24 years of experience in financial sectors, including pension products.

The Directors team also includes Chris Hervey, Michael Alculumbre and Wendy Woodward. Chris’s background includes senior positions with 4Front Group, 2e2 and SSLPost amongst others. Michael is the CEO of SSLPost and formally of Protx, which he sold to Sage Plc in November 2006. Wendy is a private member of The Wealth Management Group llp and a Sage 50 Accounts/Payroll specialist.

Russell Bavinton says: “We are delighted to be working with Rivers Capital. We have combined the very best of payroll and pension solutions provided by leading technology, pension and investment organisations to ensure a suitable pension outcome for employees whilst enabling SMEs to meet their pension and compliance obligations to the Pensions Regulator.”

Nikita Bazko, who led the investment on behalf of Rivers Capital, commented; “We are confident that the funding will really help AutoEnroll.Me Ltd take off - they have a fantastic product that will genuinely make operations easier for countless small businesses across the country.”

This was posted in Bdaily's Members' News section by Tom Keighley .