My business journey: Romi Savova
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Romi Savova is responsible for the overall strategic development and operational management at PensionBee. She has spent her career at Goldman Sachs and Morgan Stanley, holding varied roles in investment banking, risk management and financial technology. Prior to founding PensionBee, Romi was Head of Corporate Development at Credit Benchmark, an Index Ventures portfolio company. Romi holds an MBA from Harvard Business School, where she graduated as a George F. Baker scholar.
Born out of her own frustration when trying to transfer benefits from a previous employer’s scheme, PensionBee aims to help savers track down the various pensions they have contributed to and consolidate them before encouraging them to start making more contributions. To put it simply, PensionBee helps customers combine their pensions into a single online plan. For customers who don’t know where their pensions are, Pension Bee can also help them find these pensions.
Romi was featured as one of the inspiring women by Startups.co.uk and Grant Thornton recently named her as one of their Faces of a Vibrant Economy.
We interviewed Romi on the 19th of April 2017.
Could you just explain to us what it is you do?
We help people combine their pensions from previous jobs into one new online plan, managed by BlackRock and State Street.
What is your business background and what inspired you to startup Pension Bee?
I'm a traditional investment banker. PensionBee was born out of my own frustration trying to move my pension. It was so hard and complicated! Pensions should be quick, easy, and empowering instead.
Can you tell us a little more about PensionBee and how your service works?
Pensions should be clear and simple for everyone. Our sign-up process takes 5 mins and we do all the rest.
What have been the biggest challenges of setting up your business?
It’s a challenge to make pensions cool and exciting. But we're well on our way!
What kind of business support - financial or mentoring - have you received?
We have raised £4.2 million under the government's EIS scheme and our investors are a very helpful bunch.
What makes your business unique and differentiates you from your competitors?
We love our customers so they always come first. In fact, our customers star in our latest advertising campaign!
What would you say is your proudest business moment so far?
Hitting 25,000 sign ups! Modern, accessible pensions can really empower consumers and get people thinking about the future.
What does success look like to you?
Changing the pensions industry for the better and helping our customers prepare for their retirement.
In your opinion, what are some of the key ingredients to becoming a successful entrepreneur?
Find a passionate team, always build what customers want, and never give up.
Finally, what are your plans for future growth?
We’re delighted our customers are encouraging their friends to sign up! We want to grow our referral program and get the word out there: pensions no longer have to be dull or scary!
For further details on PensionBee visit www.pensionbee.com
Please note: This interview took place on the MiVentures platform which is owned and managed by Wenta.
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