Once the realm of institutional investors, Primary Bid allows for retail investors to access IPO’s and listed equity markets when companies are issuing more shares. In the 18 months prior to its latest fundraising round Primary Bid listed more than 150 IPO’s and Follow-On transactions.
Primary Bid won their first FTSE 100 company during the early days of Covid-19 Pandemic, this was a watershed moment as it proved the largest companies could use this technology to offer its shares to retail investors. Partnering with its first FTSE 100 company served as an accelerant for Primary Bid and gave the impetus for the second funding round.
A year after Hambro Perks’ initial round Primary Bid had investment from The London Stock Exchange, Outward, and Molten Ventures, at a significantly increased value.
The second funding round allowed Primary Bid to acquire regulation in parts of Europe and continue its growth.
Following Primary Bid’s latest $190m funding round earlier this year, Hambro Perks’ holding is valued at approximately 10x cost. The latest round will fund Primary Bid’s further expansion into Europe and the United States.
Link to original story here.