PensionBee’s customers to get IPO investment opportunity via PrimaryBid tie-up

By Oliver Smith on Monday 15 February 2021

Savings and Investment

A front-row seat at what could be one of 2021’s biggest fintech IPOs.

PensionBee’s customers to get IPO investment opportunity via PrimaryBid tie-up
Image source: Romi Savova/PensionBee.

Pensions provider PensionBee is inviting its customers to register their investment interest in its upcoming IPO.

Today PensionBee announced a tie-up with PrimaryBid, the retail investor platform, which it will use to offer its customers the investment opportunity if its IPO goes ahead.

“Customers can too often be an afterthought during an IPO, but our customers have always been at the heart of what we do, and we wouldn’t be where we are today without them,” said PensionBee’s CEO and co-founder Romi Savova.

“The time we take to listen to our customers is what differentiates us as a company, and this will remain true as we progress to the next stage of our growth.”

Interestingly, PensionBee plans to use its open API to connect interested customers’ accounts with PrimaryBid to streamline the onboarding process when it comes around.

We’ll have to see how this works in practice. There will undoubtedly need to be explicit signposting between PensionBee’s pensions (low-risk diversified funds) and its IPO (a high-risk single stock investment).

This announcement is also entirely dependent on PensionBee’s IPO plan, which the company repeatedly warns is still “prospective”, and no set decision has been made.

If the float does go ahead, interested customers will get a first-look at PensionBee’s prospectus, and registering interest isn’t a commitment to invest.

Last week PensionBee announced its total assets under administration had reached £1.4bn following a spike in 2020.

Read more: Taking PensionBee Public—An interview with Romi Savova

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