Warren Raises €10M Seed for Belgian Pension Reform

Ghent-based FinTech firm Warren has successfully closed a €10 million Seed funding round, signaling a significant push to modernize Belgium's retirement savings landscape. The investment, spearheaded by Motive Ventures, with crucial participation from F Capital, and continued support from existing backers Entourage, Syndicate One, and 100IN, will fuel the company's expansion within Belgium and lay the groundwork for future European market entry.

This latest funding follows a €3 million pre-Seed raise announced in March 2025, underscoring investor confidence in Warren's mission to address critical shortcomings in the Belgian pension system. Co-founder and CEO Cedric De Vleeschauwer highlighted the systemic issue: "The vast majority of Belgians save for their retirement in financial products that erode their purchasing power year after year... This is an enormous social problem whose severity remains chronically underestimated." He emphasized that the challenge extends beyond retirement income to overall long-term prosperity.

Warren's strategy targets the structural weaknesses identified in Belgium's supplementary pension framework. The company points to an aging population, declining birth rates, and a shrinking worker-to-retiree ratio as compounding pressures on the system. Furthermore, Warren criticizes existing financial products, such as certain group insurance schemes (branch 21) offering nominal returns that fail to outpace inflation and fees, and dynamic investments (branch 23) hampered by persistently high management charges. The median supplementary pension reserve for older Belgian employees, less than €10,000, starkly illustrates the inadequacy of current provisions.

Drawing inspiration from international models like Australia's, where employer contributions are substantial and funds are broadly invested to leverage compounding returns over decades, Warren aims to revolutionize employer-sponsored retirement plans. The Belgian startup, which obtained its IBP license in June 2025 and now operates the Warren Pension Fund OFP under FSMA supervision, offers a transparent alternative. It boasts no entry or exit fees and crucially, no percentage-based charges on assets under management, ensuring that all investment returns directly benefit the employee. Employers contribute a fixed subscription, maintaining their existing compensation budget while enhancing employee benefits.

David Du Pré, co-founder and CCO, noted the growing demand from both finance and HR departments for greater transparency and better outcomes from pension schemes. "Traditional pension products are still too often a black box," he stated, adding that employers are increasingly recognizing the urgency to offer benefits that not only provide financial security but also bolster their employer brand.

Beyond its pension fund management, Warren integrates a comprehensive financial coaching platform. This AI-driven service, augmented by human advisors when necessary, analyzes data from compensation packages, public pension information (Mypension.be), and bank transactions via PSD2. It empowers employees to understand their long-term financial picture, from retirement income projections to mortgage renegotiation strategies. The platform offers specialized consultations with nine domain experts, covering a wide array of financial planning needs.

With the newly secured capital, Warren plans to significantly scale its operations, targeting 100,000 employees on its platform by 2028. This growth phase includes hiring approximately thirty new team members to complement the existing 25-person staff, with ambitions to expand into one or two major European markets shortly thereafter. The company is committed to building a workplace pension solution that delivers tangible financial benefits and fosters greater financial well-being for employees across the continent.