PrimaryBid announces $50m Series B investment round

PrimaryBid, the British fintech platform that connects retail investors with public companies raising capital, has closed a $50m Series B investmentroundfrom a leadinggroupof investors. The fundraising follows a period of rapid growth in 2020 during whichPrimaryBidhelped U.K. retail investors access billions of pounds of corporate fundraisings during the COVID-19 pandemic, including FTSE 100 CompassGroup, Ocado, Taylor Wimpey and Segro. Proceeds will be used to build-out thePrimaryBidteam and technology platform as the company deepens its links with key intermediaries and expands into international markets.

PrimaryBidattracted global investors in its Series B fundraise includingLondonStockExchangeGroup,DraperEsprit,OMERSVentures, Fidelity International StrategicVenturesand ABN AMROVenturesto facilitate expansion into international markets.

PrimaryBidhas completed over 41 capital raisings for U.K. listed companies and investment trusts since April 2020, working alongside global investment banks to broaden investor access as companies recapitalised their balance sheets and raised growth capital. Retail investors directly own 13.5% of the U.K. market, while additionally holding approximately £269 billion in cash ISAs, making them an important constituency in any capital raising activity. (sources: ONS, 2018; HMRC, 2020)

Anand Sambasivan, CEO ofPrimaryBid, said: "The COVID-19 pandemic 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."

"We are privileged to welcome a number of leading global investors in our Series B. Our mission is to enhance fairness, inclusivity and transparency in capital markets, and these investors all share that commitment and global ambition. I look forward to working with them as we expandPrimaryBid's offering to retail investors in new markets, build our team and technology platform, and deepen our integration into the capital raising ecosystem."