In an effort to build new products and expand its services, PrimaryBid, a financial technology platform that connects individual investors with public companies raising capital, has secured $190 million in its recent Series C funding round.
SoftBank Vision Fund 2 led PrimaryBid’s investment round. Anand Sambasivan, the CEO of PrimaryBid, said that the company has processed more than $1.3 billion in transaction value over the past few years. Additionally, the firm expanded its team during the mentioned period and has reached almost 200 employees.
“Our advocacy around public inclusion has resonated far and wide, and we continue to champion the rights of the public in public markets (seems logical, doesn’t it?). After all, IPO doesn’t stand for 'Important People Only'. We know that the best public companies, banks and advisers understand the value, importance and fundamental fairness of including the public when they raise capital. We are here to work with them, and the capital raising ecosystem, to help them do it thoughtfully and responsibly,” Sambasivan said.
Based in London, PrimaryBid is regulated by the Financial Conduct Authority (FCA).
Global Expansion
With the recent investment, PrimaryBid is targeting the worldwide expansion of the company’s platform. In September last year, PrimaryBid announced the appointment of Sir Donald Brydon CBE as the firm’s first Chair. In 2020, the company completed its $50 million Series B round.
“Today we take a big step forward on that mission, announcing our Series C investment round and welcoming the SoftBank Vision Fund 2 to our ownership and Board. I'm excited about what it represents as we look to expand our platform globally, and what this fundraising will allow us to achieve for companies and individual investors in the years to come,” the CEO of PrimaryBid explained.
According to the company, it has worked on more than 200 transactions in the last few years.
