Warren secures €10 million to reform Belgium's workplace pension system.

      The average Belgian works for approximately 40 years and retires with a workplace pension that is worth less than a used car. Warren, a fintech company based in Ghent, aims to address this issue. The firm has secured €10 million in a seed funding round led by Motive Ventures, the venture arm of Motive Partners, a transatlantic investment group. F Capital also participated, alongside returning investors Entourage, Syndicate One, and 100IN. This funding round follows a €3 million pre-seed investment made in early 2025.

      Belgium's pension system is fundamentally flawed. With increasing life expectancy, declining birth rates, and a state pension that has not been sufficient for years, the situation is dire. The second pillar, intended as a supplementary workplace pension to close the gap, is not performing adequately. For employees aged 56 to 65, the average pension reserve is below €10,000.

      Part of the issue stems from the products available. A significant amount of funds is locked in outdated group insurance plans that guarantee minimal returns after fees and inflation are considered. For many employees, the pension statement is just an annual document that goes unread.

      Warren offers a radically simple solution. The company manages its own pension fund, the Warren Pension Fund OFP, which received an IBP license in June 2025 and is regulated by the Belgian FSMA. The fund invests by utilizing a combination of equity and bond ETFs.

      The unique fee structure is a key selling point. There are no entry or exit fees, and no percentage fees on assets. Employers pay a fixed subscription while retaining their existing pension budgets, with every euro earned going directly to the employee.

      In just one year, around 100 Belgian companies, including Lighthouse, Yuki, and Poppy Mobility, have made the switch.

      Additionally, Warren features a financial-coaching app that combines AI with human specialists, integrating data from an employee's salary, the national Mypension.be records, and their banking transactions via open banking.

      The app can simulate various financial scenarios, such as potential income during long-term illness, how much needs to be saved to retire at 63, or whether to refinance a mortgage. For more complex inquiries, users can schedule a video call with one of Warren's nine internal experts.

      Warren’s strategic timing is intentional. UK competitors like Penfold and Smart Pension have thrived in a system with mandatory retirement savings. Warren is taking action before Belgium implements similar regulations, a riskier approach that may grant the company a larger market share if reforms occur.

      The model it adopts has been successful in other regions. In Australia, employers must contribute at least 11 percent of salaries into broadly invested pension funds, accumulating a total that is about double the country’s GDP. In contrast, Belgium's second-pillar reserves amount to less than one-fifth of that figure.

      Warren aims to reach 100,000 employees by 2028, with plans to expand into one or two larger European markets and increase its staff from 25 to around 55. The key uncertainty is whether Belgian employers will take action prior to any legal requirements being enforced.