London-based Primary Bid has raised £2m to boost its expansion across Europe.
The platform allows retail investors to gain access to discounted equity offerings of publicly listed companies.
Primary Bid’s round was led by funds managed by Lombard Odier, family offices and undisclosed business Angels.
Anand Sambasivan, co-founder and CEO of Primary Bid, commented on the fundraise.
He said: “A key objective for Primary Bid is to allow pan-European retail investors seamless access to pan-European public equity offerings. Whether a publicly listed company is issuing new equity or the government is selling down its holdings, we believe retail investors deserve the same access as institutional investors. This vision is very much in line with the European Capital Markets Union legislation, which aims to further integrate capital markets across EU states.”
Since launching three years ago, Primary Bid claims over £56m has been sourced via its platform.
“This latest funding round brings us closer to achieving our ambition to extend our service beyond the UK and make it easier for retail investors to participate in new share issues in different markets,” Sambasivan added. “We are fixing a huge, long standing inefficiency in the stock market and look forward to generating more client opportunities through our expansion plans.”