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PrimaryBid raises USD 190 mln

Tuesday 22 February 2022 09:30 CET | News

SoftBank has led a USD 190 million funding round in PrimaryBid, a startup aiming to democratise the public equity markets by allowing retail investors to buy shares in IPOs and other fundraisings, according to AltFi.

Companies including Deliveroo and PensionBee have already turned to PrimaryBid to include a customer-only share offering in their float plans. PrimaryBid’s Series C was led by new investor SoftBank Vision Fund 2, with investment also coming from its existing investors.

Existing investors in PrimaryBid include LSEG (London Stock Exchange Group), Molten Ventures (formerly Draper Esprit), OMERS Ventures, Fidelity International Strategic Ventures, ABN AMRO Ventures, Outward VC, Pentech, and Hambo Perks.

PrimaryBid said that over 150 IPO and follow-on transactions have listed on the platform in the UK. It said it had also carried out its first transaction in France, launching a new retail bond product. Following this latest funding round, the London-based startup has a value of around USD 700 million.

It said it will use the funds to expand its business in continental Europe, by leveraging its partnership with ABN AMRO and Euronext. It also plans to launch in new markets, including the US, and will soon announce ‘key executive hires’ including general managers in North America and the EU.


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Keywords: investment, startup, IPO
Categories: Banking & Fintech
Companies:
Countries: United Kingdom
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Banking & Fintech






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