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LSE, ABN Amro and Fidelity join $50m round in PrimaryBid

LSE, ABN Amro and Fidelity join $50m round in PrimaryBid

PrimaryBid, the British fintech platform that connects retail investors with public companies raising capital, has closed a $50m Series B investment round.

Investors include the London Stock Exchange Group, Draper Esprit, Omers Ventures, Fidelity International Strategic Ventures and ABN Amro Ventures.

PrimaryBid completed an $8.6m Series A fundraising in September 2019, and signed a commercial agreement with London Stock Exchange in November 2019 to broaden access to UK equity offerings. The firm also has an arrangement with pan-European exchange operator Euronext.

PrimaryBid has completed over 41 capital raisings for UK listed companies and investment trusts since April 2020.

Proceeds from the latest round will be used to build-out the PrimaryBid team and technology platform as the company deepens its links with key intermediaries and expands into international markets.

Anand Sambasivan, CEO of PrimaryBid, says: "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."

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