PrimaryBid the fintech that aims to make new issues and placings accessible to retail traders and investors have launched a desktop version of its mobile App.
PrimaryBid, which can trace its roots back to 2016, has, until now, only been available as an App on mobile devices and not on desktop computers. But from this week, users can peruse the company’s offering on a larger display.
To access the new system clients need simply to enter the email address they have registered with the firm which will then send them an email containing an OTP or One-Time-Password to login with.
Once logged-in users can browse the details of current and closed new issues and secondary placings.
Is PrimaryBid expanding and moving into new markets?
PrimaryBId has expanded beyond the UK having raised $190 million in a series C funding round in February 2022.
That round was led by the Softbank Vision Fund 2.
PrimaryBid had previously raised funds from the London Stock Exchange Group, Draper Esprit, OMERS Ventures, and Fidelity International Strategic Ventures among others.
The 2022 fundraising, was said at the time, to have valued the business at around $650 million, of course, the availability of VC funding and the valuation of Fintechs have changed dramatically in the last year.
Since opening for business PrmaryBid has participated in more than 30 IPOs and more than 200 follow-on or secondary issues.
Which have raised a combined $1.20 billion or just under £1.0 billion at current exchange rates.
A broad range of issuers and a growing distribution network
Issuing companies that have used the platform to address retail investors include Taylor Wimpey, William Hill, Aston Martin Lagonda, Ocado and Severn Trent.
Primarybid has also built a distribution network that contains many of the UK’s leading private client brokers and investment platforms.
The new desktop platform should attract customers who prefer not to conduct their financial affairs on a small screen. Whether that will be sufficient to boost PrimaryBid’s turnover significantly remains to be seen.
PrimaryBid’s hardest task is likely to be in convincing more issuing companies, and their advisors, that using PimaryBid will benefit them, and help them to reach their fundraising goals, whilst broadening their shareholder base.