PensionBee, the app making it far easier for you to manage your pension has said it’s going to enable it’s customers to participate in it’s upcoming initial public offering (IPO) – which is where a private company becomes public and lists it’s share for sale of the London Stock Exchange.
It’s very unusual for a company to do this, an IPO is usually dominated by institutional investors who get access via the investment bank(s) who manage the floatation, and is typically very lucrative.
Romina Savova, the founder of PensionBee, said a key element of it’s IPO was allowing customers to become involved as “our customers have always been at the heart of what we do,” and “Providing our customers with an opportunity to share in our growth journey has always been a key motivation in our reasons for listing.”
PensionBee are working in partnership with PrimaryBid, a retail investor platform, in order to allow customers to participate. To qualify you must have a PensionBee account and also register your interest on PrimaryBid.
Here’s our review on PensionBee if you’d like to learn more about them and how to register an account before the IPO. Founded in 2014, they currently have an estimated £1.4billion assets under management and over 400,000 customers, with 2020 a very good year, increasing their revenue by 77% to £6.3m.
Firms such as Klarna and Clearpay are now facing stricter controls from the Financial Conduct Authority (FCA), who will now be responsible for regulating the sector. That means more checks on the customer when they choose to use these services.
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