LONDON: PensionBee Limited announced the intended publication of its registration document and that the Company is considering an initial public offering (IPO), and considering applying for admission of its Shares to trading on the High Growth Segment of the Main Market of the London Stock Exchange.
PensionBee is a leading online pensions provider, with a mission to make pensions simple, so that everyone can look forward to a happy retirement. It delivers a leading customer proposition to pension holders in the UK defined contribution pensions market, catering for the many people who have historically struggled to understand, prepare for and manage their retirement confidently.
PensionBee was co-founded in 2014 by its Chief Executive Officer, Romi Savova, and its Chief Technology Officer, Jonathan Lister Parsons, to simplify pension savings in the UK following a difficult pension transfer experience for Romi Savova using traditional platforms.
PensionBee is a direct-to-consumer financial technology company, with a mission to make pensions simple, so that everyone can look forward to a happy retirement.
PensionBee is a leading online pensions provider in the UK, with approximately 130,000 Active Customers and £1.5 billion of assets under administration (AUA), in each case as at 28 February 2020.
Mark Wood, Chairman of PensionBee, said: “Always on the side of its customers, PensionBee has grown by showing how saving for a retirement can be done differently, providing a solution for those seeking to save for and manage their income throughout retirement. I am proud of the rapid progress PensionBee has made to date, which is testament to the effectiveness of its simple, customer-centric proposition and proprietary, industry-leading technology.
This is a key milestone for PensionBee. Transparency and strong corporate governance are key aspects of an IPO and are core to our strategy of becoming the best universal online pension provider. I see significant market opportunities ahead for PensionBee – with a clear acceleration of the structural shift to online services, PensionBee is well-positioned to execute against its growth ambitions while continuing to fight for the consumer.”
Romi Savova, Chief Executive Officer of PensionBee, added: “A pension is unquestionably one of the most important advantages people can give themselves when looking ahead to their retirement. PensionBee was born out of my own, sadly still all too common, poor pension experience. For too many, pensions remain inaccessible. PensionBee is on a mission to change that by giving customers complete control and clarity over their retirement savings.
Our rapid growth to date has been fuelled by customers being attracted to our leading combination of proprietary technology and customer service, and our commitment to putting our customers first. Our mass market appeal, combined with the increasing transition to digital and the ever greater need for financial well-being, leaves PensionBee well positioned.
The prospective IPO will enhance our ability to invest in our future growth, for the benefit of all our stakeholders. It was always our plan to offer our customers a chance to participate in the IPO and we are thrilled to be giving them the opportunity to share in our next phase of growth.”
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