← State of Embedded Finance 2026

Cushon

Can a climate-focused workplace pension and savings platform scale distribution through employer payroll integrations and NatWest's corporate banking relationships?

Founded2014
HQLondon, United Kingdom
Total raised$98.2M
IndustryFintech / Investment
The story

Founded in 2014 as a fintech-first workplace savings and pension platform, Cushon differentiated on a climate-focused investment strategy and digital-first employee engagement. Following acquisition by NatWest Group, the company deepened its integration with the bank's distribution network and rebranded to NatWest Cushon. The embedded finance angle is primarily around workplace pensions and savings distributed via employer payroll integrations, rather than standalone consumer finance products.

Last 12 months
2024
2025
Product timeline
2014
Cushon founded as a fintech workplace savings and pension business.· banking
2022
NatWest Group acquires Cushon, becoming part of the NatWest Group.· acquisition
2024
Cushon rebrands to NatWest Cushon following deeper NatWest Group integration.· pivot
2025
Cushon launches a new market-leading investment strategy highlighted by IBS Intelligence.· banking
Regulated entities
FCA Authorised
UK FCA
Cushon Money Limited
Pension Scheme (Master Trust)
UK (The Pensions Regulator)
Cushon Master Trust
The stack
Accounting gap: none