Pentech, Outward in £7m funding round for PrimaryBid

Undisclosed new and existing investors also participated.

Pentech is currently investing from its Pentech Fund III, which closed on £88m in 2017. Outward Fund VC is an Investec vehicle that held its first close on £38m in July 2019.

The fresh capital will be used to invest in sales and marketing, and accelerate IT product development.

Pentech partner Craig Anderson will join the board of directors, while a representative from Outward will take a board observer seat.

This year, the company internationally expanded with a partnership with Euronext. The company plans to launch its first new site in France later in 2019.

Previous funding
In 2016, PrimaryBid received £500,000 in seed funding from an undisclosed investor.

Lombard Odier led a £2m funding round for the company in September 2018. Business Angels Club Berlin also participated.

Company
PrimaryBid is an FCA-regulated online investment platform. PrimaryBid allows private investors to purchase discounted share issuances from publicly listed companies. Based in London and founded in 2012, the company employs 8 people, according to LinkedIn.

People
Pentech – Craig Anderson (partner).
Outward VC Fund – Kevin Chong (co-head).
PrimaryBid – Anand Sambasivan (co-founder, CEO).

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• Topics
• Expansion
• UK / Ireland
• Financials
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• Investec