Warren raises €10 million to rethink workplace pensions in Belgium
Ghent-based FinTech startup Warren has secured €10 million in seed funding to accelerate growth in Belgium and prepare for European expansion. The company aims to address Belgium's strained pension system by offering transparent and cost-effective workplace pension plans.
Warren, a Ghent-based FinTech startup specializing in workplace pensions and financial coaching, has raised €10 million in a Seed round. The round was led by Motive Ventures' venture arm, with participation from F Capital, and renewed support from Entourage, Syndicate One, and 100IN. In March 2025, Warren announced a €3 million pre-Seed round.
Founded in 2024 by Cedric De Vleeschauwer, Jos Polfliet, David Du Pré, Tijs Deryckere, and Pieterjan Behaeghe, Warren claims to be reforming workplace pensions in Belgium. According to the company, Belgium's pension system is under severe strain: people are living longer, birth rates are declining, and the worker-to-retiree ratio is worsening. Statutory pensions are insufficient, and the second pillar – supplementary pensions – is underperforming. The median supplementary pension reserve for employees aged 56–65 is less than €10,000.
Part of the problem lies with the products themselves. Some reserves are allocated to branch 21 group insurance, which offers nominal returns but minimal gains after inflation and fees. Branch 23 products invest more dynamically but have structurally high management fees. Warren notes that Belgium's system largely overlooks the power of compound returns over long periods, unlike countries such as Australia, the Netherlands, and Scandinavia.
In June 2025, Warren obtained an IBP license and launched its own pension fund: Warren Pension Fund OFP. The fund invests in a mixed portfolio including equity and bond ETFs under FSMA supervision. The startup claims there are no entry or exit fees and no percentage-based charge on assets under management. Employers pay a fixed subscription, and every cent of return goes to the employee.
Beyond the pension fund, Warren offers a coaching platform that guides employees across their financial life using AI or personal advisers. The AI coach in the Warren app pulls data from the employer's compensation package, Mypension.be, and bank transactions via PSD2. Employees can get answers about income during long-term illness, retirement savings at age 63, or mortgage renegotiation. Video consultations with nine domain specialists cover loans, insurance, and investment planning.
Warren targets 100,000 employees on its platform by 2028, after which it will expand into one or two major European markets. The company plans to hire around 30 additional employees on top of its current 25. Already, about 100 Belgian companies, including Lighthouse, Yuki, Wintercircus, and Poppy Mobility, have switched to Warren for their pension plans.
