PrimaryBid Raises $50 Million, LSE Takes 9% Stake

By Jaime Llinares Taboada

PrimaryBid Ltd. said Monday that it has raised $50 million from investors including the London Stock Exchange Group PLC, which has acquired a 9% shareholding in the company.

The British fintech platform said that the funds will be used for key senior hires and technology investments, as the group plans its expansion into Europe and other overseas markets.

Investors participating in the fundraise also included Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures and ABN AMRO Ventures.

"PrimaryBid has become an important part of the U.K.'s capital raising ecosystem and we look forward to working with them to further enhance retail investor access to capital markets within the U.K. and globally," LSE's Head of Equity Primary Markets Charlie Walker said.

Following LSE's investment, Mr. Walker will be appointed as non-executive director of PrimaryBid.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

October 26, 2020 09:57 ET (13:57 GMT)

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