Collegia Pension co-founders Riccardo Gasparini and Eduardo Chazan
Collegia has reported it has reached break-even just four years after launching Collegia Pension.
The combined auto-enrolment (AE) and personal pension provider – which was launched in 2021 by Eduardo Chazan and Riccardo Gasparini – said it now supported more than 40,000 members across some 4,000 employers.
The firm said over 50% of its employers also chose to use its payroll platform.
Collegia chief executive Eduardo Chazan said: "Breaking even is a huge achievement - especially for a business that has largely self-funded its growth. We set out to prove a model that doesn't rely on the chequebook of a large VC, but instead uses cutting-edge technology to deliver outstanding service, dramatically lower operating costs, and near-zero friction for employers."
Collegia said its focus from day one has been to apply modern AI and automation to the most time-consuming parts of payroll and pensions – a move it says enables employers to get a high quality experience at no cost.
Chazan explained: "The demand has been strong across both smaller and mid-sized employers. ‘Free' is a powerful draw, but what keeps customers with us is the quality of the product – especially the ability for members to self-manage through the app, which can significantly reduce HR and payroll workload."
