UK’s PrimaryBid raises $50M as its retail investing platform sees a COVID-19 surge of activity –
Summary
The funding comes on the heels of the startup working alongside larger investment banks to get retail investors in on 41 capital raising efforts for U.K. publicly listed companies and trusts since April 2020. The startup has built a platform that makes it easier for retail investors to participate in new share issues, and it has been around since 2016, but it has found its groove at a time when companies raising money might be looking to cast their nets a bit wider than usual. “As fintech specialists it’s been impossible to ignore the rise of PrimaryBid in 2020 and its success championing retail investors in the capital markets,” said Tara Reeves, partner at OMERS Ventures, in a statement. “PrimaryBid’s technology sits at the intersection of powerful trends in financial services – regulation, digitalisation and democratisation – and OMERS Ventures is delighted to support the team’s mission to put individual investors on equal terms with institutions. “Anand and the team have built unique technology infrastructure that is redefining the way issuers access capital markets; seamlessly connecting everyday retail investors with public companies.