Fintech company PrimaryBid is close to finalising the details of a $150m (£110m) funding round led by SoftBank’s Vision Fund II according to weekend reports.
The Series C fund-raising was likely to value the company at more than $500m (£368m) on a pre-money basis, Sky News said, citing sources.
The funding from Softbank’s Vision Fund II will provide PrimaryBid with “greater financial firepower” to continue its expansion beyond the UK.
PrimaryBid is a technology platform that allows individual investors fair access to public companies raising capital. PrimaryBid allows retail investors transact at the same time and at the same price as institutional investors.
Founded in 2016, the company gained real momentum during the pandemic, where more people took an interest in investing.
PrimaryBid has worked with more than 200 public companies choosing to include personal investors in their IPOs—including the likes of Deliveroo and Ocado.