PrimaryBid Raises $190M to Help Further IPO Access

Urian B., Tech Times 20 February 2022, 10:02 pm

Launching an IPO has been immensely difficult for some smaller companies and this is something that PrimaryBid wants to change. As per the company, they are focusing on helping companies go public or even already public companies that are still raising more investments by raising $190 million.

Startup's Investment to 'Continue Building Out the Products' Already Offered

According to the story by TechCrunch, PrimaryBid's CEO and co-founder, Anand Sambasivan, noted that the startup plans to use the investment in order to "continue building out the products" that the company is already offering and expand into new territories.

As of the moment, the company offers the ability to "invest in SPAC-based public listings and investments in retail bonds" and is also looking at building an office within the US where regulatory approval is expected to be processed for companies listings. The latter is expected to launch late this year or next year.

PrimaryBid Interoperates 60 Channels to Help Enable Investments

As of the moment, there are 60 channels that PrimaryBid interoperates in order to help enable investments which includes apps and brokerages that are being used by the public as of the moment. The list is also expected to increase over time.

The main mission as per Sambasivan, is to be able to bring back the "public" concept of public offerings. To expand, the CEO stated that this is by providing the opportunity to invest in IPOs along with larger and professional investors and banks to the ordinary person.

Pre-Money Valuation of PrimaryBid at $500 Million

As per a note on PitchBook, it was discovered that $150 million was invested in PrimaryBid. This, however, followed a Sky News report at that time which shared the pre-money valuation of PrimaryBid putting it at $500 million.

Consumer-focused businesses, as of the moment, aren't the only ones that benefit due to the market demand when it comes to both companies and investors, as per Sambasivan. The CEO also revealed that PrimaryBid has only worked with 10% of trades in B2C forms.

Offerings that are Now Available to the Ordinary Investor

PrimaryBid notes that over the last 18 months, the company has been able to help facilitate share offerings for "retail investors" to a whopping 150 IPOs as well as follow-on share issues. In addition, Robinhood and Revolut, among other financial apps, have made it much easier for the regular consumer to invest in currencies and public companies.

The increase of access to investments is also being helped by a new approach that has become more popular in Europe, the ETF. To add, back in the day, these types of investments, as per TechCrunch, would only be made available to high-profile investors and institutions unlike today when regular investors can also buy these types of assets.

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Written by Urian B.