UK-based online investment marketplace PrimaryBid completed a $50m series B round yesterday featuring exchange operator London Stock Exchange Group and financial services firm ABN Amro’s venture capital arm, ABN Amro Ventures.
Investment and financial services group Fidelity and pension fund manager Omers also took part, through Fidelity International Strategic Ventures and Omers Ventures respectively, along with Draper Esprit, Pentech and Outward VC.
PrimaryBid operates an online platform that allows retail investors to connect to companies raising money and get access to capital on the same terms as institutional investors.
The company signed a commercial agreement with London Stock Exchange in November 2019 and also has a partnership in place with fellow exchange operator Euronext. The series B funding will support additional international growth.
Hugo Bongers, director at ABN Amro Ventures said: “Our investment in PrimaryBid is a good fit with our portfolio and provides access to unique innovation within established and institutional domain of the equity capital markets.
“We believe in democratising the capital markets; PrimaryBid can play a leading role here, in Europe and beyond. We look forward to our strategic collaboration with PrimaryBid’s management as we team up to create added value for our clients and other stakeholders.”
The company had raised $2.6m in September 2018 from funds managed by Lombard Odier and unnamed family offices and angel investors, before Pentech and Outward VC co-led an $8.6m round in September 2019 that included undisclosed new and existing backers.
