PrimaryBid raises £7m in a Series A funding round led by Pentech and Outward VC to support product development and market expansion.
Pentech and Outward VC led the Series A round, which will fund sales growth and IT development.
PrimaryBid operates a fintech platform that connects individual investors with public market share offerings. The company enables corporate issuers to include retail investors in initial public offerings and subsequent capital markets transactions.
PrimaryBid has secured £7m in a Series A financing round led by Pentech and Outward VC, with participation from new and existing investors. The company will direct the capital towards scaling its sales and marketing operations and accelerating product development for its online platform.
The fundraising follows an active period of commercial growth for the business, which includes securing an exclusive long-term agreement with pan-European exchange Euronext to expand its services across nine new geographies.
Pentech and Outward VC join the shareholder base to support the firm as it scales its operations internationally and opens up public equity offerings to retail investors.
From the founder
"We are on a mission to democratise public equity offerings. Everyday investors are a vital part of the stock market and yet unable to buy discounted share deals – a longstanding imbalance in the public markets. This is true whether it is a government selling down its holding in a large company or a quoted company is raising growth capital. Our online platform addresses this challenge, giving small investors the same access as traditionally afforded to large institutional investors. We are grateful for the backing of our lead investors as well as our other institutional and angel investors. With their support we are confident of executing our vision quickly and efficiently."
Anand Sambasivan
CEO and co-founder at PrimaryBid
Investor perspective
"We believe equity capital markets infrastructure is dominated by an institutional focus and is not geared for retail investors, which unfairly restricts consumer access to the primary equity markets. PrimaryBid addresses this problem by using technology to democratise the equity capital markets to provide a new asset class to retail investors. We are very excited to be working with Anand and the PrimaryBid team to help realise that mission."
Craig Anderson
Partner, Pentech
Use of funds
- 01Invest in sales and marketing
- 02Continue product development
Investors
Categories
About the company
PrimaryBid
A fintech platform providing retail investors with fair access to public markets.