PensionBee has announced there are over £3bn assets under administration as of this month.
The online pension provider said despite the macroeconomic volatility, it has been able to reach this “milestone” through high customer retention and strong net inflows.
“The ongoing growth in our Assets under Administration results from our commitment to delivering outstanding customer service and helping more people prepare for a happy retirement,” chief executive Romi Savova said.
“We are growing the business in line with our ambitions while helping to meet the country’s ever greater need for long term retirement planning and preparedness.”
The update comes after the fintech firm doubled down on its goal of profitability by next year today as it reported a 24 per cent jump in assets in the nine months to September.
The London-listed online pensions provider said that invested customers increased 68 per cent to 174,000 – up from 104,000 last year – as assets hit £2.8bn in the period.
Revenues in the nine months to September jumped 44 per cent on last year’s levels from £9m in the nine months to September 2021, with the firm saying it was on track to reach profitability before deductibles by late 2023.
Shares shot up over five per cent in early morning trade.