PrimaryBid, a retail investment platform, has bagged £2m in funding to support its pan-European expansion.
The investment was backed by funds managed by Lombard Odier, family offices and a series of angel investors.
UK-based PrimaryBid provides retail investors the ability to take part in equity offerings at the same time and price as institutional investors do. The mobile app enables purchase of shares at discounted process, with a user able to buy between £1,000 and £100,000 through their debit card.
The app pushes notifications when there are any new opportunities available and any shares purchased are automatically sent to the user’s designated dealing account.
Capital from the round will be used to support its pan-European expansion plans. This would enable retail investors to access discounted investment opportunities to acquire shares in businesses across Europe.
PrimaryBid co-founder and CEO Anand Sambasivan said, “A key objective for PrimaryBid 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.”
Earlier in the week, butterwire surpassed its £200,000 crowdfunding target, reaching £308,440 for the offering. The UK-based company offers an AI-powered investment portfolio analyst platform for both individuals and institutions.
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