PrimaryBid, a London, UK-based online platform connecting publicly listed companies with investors for discounted share issuances, closed a £7m funding round.
The round was led by Pentech and Outward VC with participation from Hambro Perks and other new and existing investors. In conjunction with the funding, Craig Anderson, a partner at Pentech, will join the PrimaryBid Board of Directors with Outward VC having a Board Observer seat.
The company intends to use the funds to expand its sales and marketing efforts as well as accelerate IT product development.
Led by Anand Sambasivan, CEO, PrimaryBid provides a FCA regulated desktop and mobile platform, which allows everyday investors to be connected with listed companies seeking to raise capital. The company’s solution allows private investors to participate, at the same time and the same price, delivering open access regardless of the size of their investment. More than £65m has been sourced via the service, across 48 transactions.
It is free of charge for investors, regardless of the size of their investment, from £100 upwards.