Grandhood raised a new investment round.

Grandhood, a Copenhagen, Denmark-based startup working on a digital product providing an alternative pension fund service, announced securing a new capital investment round of DKK 30M ($4.4M)

The funding was provided by new and existing investors, including local pension fund from Denmark Velliv. At the same time, Grandood enters in a strategic partnership with Velliv, whereas Grandhood will be responsible for communication, advice and onboarding through its app, while Velliv - which already provides pension solutions to more than 300,000 Danes - is responsible for the pension investment itself.

Grandhood, founded in 2017 and led by CEO Steen Michael Erichsen, developed a mobile application that provides an alternative saving solution for Danish retired people.