PrimaryBid, a British fintech platform that connects retail investors with public companies raising capital, has just raised funding of its own, closing a $50 million Series B round. Investors include the London Stock Exchange Group, Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures and ABN AMRO Ventures.
An official partner of the London Stock Exchange, the startup aims to democratise access to public markets and has the potential to “modernise market infrastructure software,” says Vinoth Jayakumar, a partner at Draper Espirit.
The London-based business reports that since April, it has helped close over 40 fundraising rounds for UK-listed companies and investment trusts, bringing in retail investors such as FTSE 100 Compass Group, Ocado, Taylor Wimpey and Segro.
Founded in 2015, Primarybid raised over $8 million about a year ago, according to Crunchbase. The latest investment will go to building out the team and technology as the company expands into international markets.