An £140m fundraise into PrimaryBid, a start-up allowing UK investors to buy shares in initial public offerings, has been backed by SoftBank and the investment group Hedosophia.
PrimaryBid has already worked with companies including Deliveroo and PensionBee in the UK, allowing its users to join institutional investors in buying shares when they were first sold on the stock market.
It has also started to offer IPO services in the US, acting for Soho House’s UK customers on its New York flotation.
In the past 18 months, more than 150 IPO and follow-on transactions have listed on PrimaryBid in the UK.
“Our ambition is to democratise public market offerings,” said PrimaryBid co-founder Anand Sambasivan. “Our platform deepens the relationships public companies have with their stakeholders and helps them make their equity and debt offerings more inclusive.”
