PrimaryBid, an online funding platform that enables investors to gain access to placings of AIM-listed companies, it secured $50 million through its Series B investment round. According to PrimaryBid, the investment follows a period of growth in 2020, which includes the platform offering retail investors access to billions of pounds of corporate fundraisings during the COVID-19 pandemic, such as FTSE 100 Compass Group, Ocado, Taylor Wimpey, and Segro.
“We trade across multiple sectors and have so far provided opportunities to thousands of private investors. Though currently focused on AIM listed companies, we are moving toward expansion into other markets in the near future.”
PrimaryBid also reported that it believes that private investors should have an equal right to participate in small-cap fundraises alongside Institutional Investors.
“For example, private investors constitute over 60% of average trading volume on AIM but are typically excluded from fundraises. PrimaryBid changes this by allowing Private Investors to participate in new share placings by listed companies.”
PrimaryBid further revealed it attracted various global investors in its Series B fundraise such as London Stock Exchange Group, Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures, and ABN AMRO Ventures to facilitate expansion into international markets. The Series B round comes just a little over a year after PrimaryBid raised £7 million through its latest investment round, which was led by Pentech and Outward VC. While sharing more details about the Series B investment, Anand Sambasivan, CEO of PrimaryBid, stated:
“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 expand PrimaryBid’s offering to retail investors in new markets, build our team and technology platform, and deepen our integration into the capital raising ecosystem.”
PrimaryBid added 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 key international markets.