PrimaryBid has closed a $50 million Series B funding round, with investment from the London Stock Exchange Group, Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures and ABN AMRO Ventures.
The money will be used to expand the team and technology platform as the company deepens its links with key intermediaries and expands into international markets.
PrimaryBid's platform has completed over 41 capital raisings for UK listed companies and investment trusts since April, working alongside global investment banks to broaden investor access as companies recapitalised their balance sheets and raised growth capital.
Chief executive Anand Sambasivan 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."
Vinoth Jayakumar, partner at Draper Espirit, added: “Our investment in PrimaryBid aligns with part of our wider investment thesis to democratise retail investors' access to public markets as well as modernise market infrastructure software."
Latest News
-
Gemini to cut quarter of workforce and exit UK, EU and Australia as crypto slump forces retrenchment
-
Bank ABC’s mobile-only ila bank migrates to core banking platform
-
Visa launches platform to accelerate small business growth in US
-
NatWest to expand Accelerator programme to 50,000 members in 2026
-
BBVA joins European stablecoin coalition
-
eToro partners with Amundi to launch equity portfolio with exposure to ‘megatrends’
Creating value together: Strategic partnerships in the age of GCCs
As Global Capability Centres reshape the financial services landscape, one question stands out: how do leading banks balance in-house innovation with strategic partnerships to drive real transformation?
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories