PrimaryBid raises $50m fundraise, plots global expansion

By Daniel Lanyon on Monday 26 October 2020

Savings and Investment

Investors include London Stock Exchange Group, Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures and ABN AMRO Ventures. Existing shareholders Pentech and Outward Ventures also took part.

PrimaryBid raises $50m fundraise, plots global expansion
Image source: PrimaryBid CEO Anand Sambasivan.

PrimaryBid has closed a $50m Series B investment round from a number of notable investors as it seeks to expand outside of the UK.  

The fintech platform connects retail investors with public companies raising capital, allowing access to discounts previously only available to institutional investors. For example, ahead of an Initial Public Offering (IPO), a company will offer its shares to institutional investors willing to back the raise at a certain level (normally tens of millions of pounds) with a lower-priced stock than the opening price offered to the general public when the shares list. 

In 2020 PrimaryBid helped U.K. retail investors access billions of pounds of corporate fundraisings during the COVID-19 pandemic, including FTSE 100 Compass Group, Ocado, Taylor Wimpey and Segro.  

PrimaryBid says thanks to a strong period of "rapid growth" in 2020 it will be immediately expanding into Europe where it has an exclusive commercial agreement with Euronext across nine geographies on the continent, and soon launching in other international markets. 

Investors in this Series B fundraise including London Stock Exchange Group, Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures and ABN AMRO Ventures. 

Anand Sambasivan (pictured), CEO of PrimaryBid, say the COVID-19 pandemic has demonstrated the effectiveness of the public markets, with companies recapitalising quickly and efficiently.

"Our technology has allowed thousands of retail investors to participate on equal terms with institutional investors, unlocking a large and important source of liquidity and long-term share ownership for corporate issuers. The response from Boards and their advisers to our solution has been excellent: they recognise our digital solution for retail inclusion brings together both good governance and best execution." 

"Our mission is to enhance fairness, inclusivity and transparency in capital markets, and these investors all share that commitment and global ambition.".   

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