Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Common Wealth Raises $12M To Expand Retirement Access
Apr 15, 2026 | NCFA Fintech Market Activity | Wealth Investing And Trading, Financial Inclusion And Access
Funding Targets Workplace Pension Gap
On April 13, 2026, Common Wealth announced a $12 million Series A financing to expand workplace retirement access in Canada. The Toronto company says the funding will support distribution, advisor partnerships, platform development, and retirement income tools for older Canadians.
The gap is large and measurable. Common Wealth says more than 10 million Canadians working in the private sector do not have access to a workplace retirement plan. It also says the shortfall is most acute among smaller employers, where less than 20% (1 in 5 employers) with 5 to 499 employees offer a workplace retirement plan. 75% of adults aged 55 to 64 have $100,000 or less in savings. The data is pretty clear and points to a broad and growing retirement access problem across the labour market.
Since early 2024, Common Wealth says it has grown its employer base by 3x, now serving more than 1,500 employers across Canada. It says more than 80% of those employers set up a workplace retirement plan for the first time. Over the same period, membership increased 3.5x, assets under administration rose 4x, and its advisor network expanded to more than 400 advisors.
Alex Mazer, Co-founder and CEO, Common Wealth
“We’re opening up the retirement market for small and mid-sized employers and their employees – people who’ve been left behind by a legacy industry built for big employers and wealthy people. And we’re building the platform to help Canadians with one of their biggest financial concerns: turning their savings into income they can count on.”
The financing builds on a $15 million venture debt facility established with Flow Capital in July 2025. The company says it will use the new capital to reach more small and mid-sized employers, deepen advisor distribution, improve member retirement income tools, and invest in its core technology and AI capabilities.
Workplace retirement access in Canada still depends heavily on employer size and legacy plan economics, and as a result long term financial security is still closely tied to where someone works and whether their employer can support a plan.
See: Where the Gaps Are: Fintech Insights from FCA Data
Common Wealth is not trying to replace large institutional pension plans. It's going after the segment that incumbent providers have served weakly or not at all. That's where the distribution opportunity lies. It means there's also a financial inclusion angle.
Talking Point
Common Wealth is attracting capital by targeting a large, underserved part of the Canadian retirement market.
If more small employers can offer plans and more workers can save through payroll-linked structures, retirement savings becomes less dependent on individual initiative alone.
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