The digital wealth disruptor will use the funds to increase its reach outside of the United Kingdom.
Primary Bid, the online platform that allows retail investors to buy discounted equity offerings of publicly listed companies, has closed a £2m investment round led by funds managed by Lombard Odier, family offices and a series of angel investors.
The proceeds will fuel Primary Bid’s pan European expansion plan. Launched three years ago, Primary Bid allows retail investors to participate in equity offerings at the same time and price as institutional investors and has raised more than £56m via the company’s platform doing so.
Anand Sambasivan, co-founder and CEO of Primary Bid, says one of the platform’s key objectives is to allow pan-European retail investors access to pan-European public equity offerings at discounted rates.
“Whether a publicly listed company is issuing new equity or the government is selling down its holdings, we believe retail investors deserve the same access as institutional investors.This vision is very much in line with the European Capital Markets Union legislation, which aims to further integrate capital markets across EU states."
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.