PensionBee joins London Stock Exchange Premium Segment as AUA hits £2.74bn

Romi Savova and the PensionBee team took over the London Stock Exchange (LSE) this morning to celebrate the company’s move to the LSE’s Premium Segment.

The Premium Segment is reserved for listed companies that meet the exchange's highest standard of governance and regulation.

Along with the move, PensionBee also provided a trading update that reiterated its goal of hitting £20m in revenue, and said it operated during the quarter ending 31 March with an annual run rate of £17m.

"We are very pleased to have delivered this performance in the first quarter of the year, particularly considering the macroeconomic and geopolitical uncertainty and volatility,” said PensionBee’s CEO and co-founder Romi Savova.

“An important next step in our growth plan is the transition to the Premium Segment of the London Stock Exchange. This move will help to progress us further on our mission to make pensions simple for everyone."

During the last quarter, PensionBee also increased its invested customer base to 138,000, with assets under administration (AUA) of £2.74bn.

The pensions provider’s marketing cost per invested customer is currently sitting at £250, at the top end of its range, but the company said this will decline later this year as its marketing efforts are weighted to H1.

PensionBee’s next market update will likely be around its AGM coming up on 18 May, which the company says it expects to hold in person.