Most ambitious business leaders dream of their organisation one day making it big in the US. But there are several factors that can make or break such a move, from finding local partners to marketing and product adaptation. It may be the land of opportunity, but it’s a tough market to crack.
For retirement planning app, PensionBee, successful US expansion has been about extensive planning, research and local insights, says its chief financial officer, Christoph Martin. “You cannot assume that what works for you in one country will do so in another. It’s important to remain adaptable and continuously learning as an organisation. At the same time, you need to stay true to your mission.”
Launched in 2014, PensionBee helps people to prepare for retirement by combining all their old pensions into one platform. It also offers different pension investment plans, including impact investing and fossil fuel-free options. The group currently serves over 250,000 customers in the UK, with £4.4bn in assets under administration as of the end of 2023.