Retirement savings app PensionBee said it saw assets under administration climb 21% to £6.3bn in the six months to the end of June.

In its interim results it said the AUA jump was “driven by strong net flows from new and existing customers.”

It said the number of invested customers on the app increased by 14% year-on-year to 286,000, up from: 252,000 last year.

Revenue rose to £18.9m for the first half of the year, up from £15.4m in the same period in 2024.

But the firm made a pre-tax loss of £5.1m in the period, up from a loss of £3.8m in the first six months of 2024. That figure was probably behind the 2% drop in PensionBee’s share price after the interim results were announced.

Romi Savova, chief executive of PensionBee, said the firm had increased its marketing spend during the period, with a strong focus on attracting younger savers. She said: “With a robust pipeline of new customers and record-high brand awareness, we are well-placed to sustain our growth trajectory through the year and beyond.”

In the US, she said the first half of the year marked a “foundational phase of investment, laying critical infrastructure with the introduction of transfer automations, a new self-employed offering, and interactive tooling designed to help customers prepare for retirement.”

Through the firm’s Safe Harbor IRA business line it said it has established a strong pipeline of new customer accounts, and with brand awareness reaching 5% it said it is poised to accelerate operational growth through increased marketing expenditure in the second half of 2025.

Ms Savova said: "Our continued progress against our strategic goals continues to underpin our long-term ambition: serving 1m invested customers over the next decade in the UK and growing our US customer base. “

She founded the firm in 2014 following what she said was a “harrowing” pension transfer experience of her own. Before PensionBee, Ms Savova worked at Goldman Sachs, Morgan Stanley and Credit Benchmark and received an MBA from Harvard Business School.