London-based investment platform PrimaryBid raises €8 million to fuel expansion

primarybid

London-based PrimaryBid is an online platform connecting publicly listed companies with everyday investors for discounted share issuances. The platform allows for trading across multiple sectors, and has so far provided opportunities to thousands of private investors.

The startup has just closed a €8 million funding round led by Pentech and Outward VC, with participation from new and existing investors. 

Over the past year, PrimaryBid has made key executive appointments and achieved its ambition to extend its services beyond the UK with an exclusive, long-term commercial agreement with Euronext, the leading pan-European exchange in the Eurozone. The partnership gives the company access to nine new geographies, with the first new site launching in France later this year.

“We are on a mission to democratise public equity offerings,” said Anand Sambasivan, co-founder and CEO of PrimaryBid. “Everyday investors are a vital part of the stock market and yet unable to buy discounted share deals – a longstanding imbalance in the public markets. This is true whether it is a government selling down its holding in a large company or a quoted company is raising growth capital. Our online platform addresses this challenge, giving small investors the same access as traditionally afforded to large institutional investors. We are grateful for the backing of our lead investors as well as our other institutional and angel investors. With their support we are confident of executing our vision quickly and efficiently.”

“We believe equity capital markets infrastructure is dominated by an institutional focus and is not geared for retail investors, which unfairly restricts consumer access to the primary equity markets,” said Craig Anderson of Pentech. “PrimaryBid addresses this problem by using technology to democratise the equity capital markets to provide a new asset class to retail investors. We are very excited to be working with Anand and the PrimaryBid team to help realise that mission.”
 

“By bringing publicly listed companies directly to ordinary investors, PrimaryBid addresses increasing frustrations felt by equity issuers and potentially expands global equity markets to the benefit of all players – investors, issuers and investment bank advisers,” said Kevin Chong of Outward VC. “It’s the future of equity capital markets and Anand and the team have been very impressive in their execution. We look forward to supporting PrimaryBid through a high growth, internationalisation phase.”