- PrimaryBid allows private investors to bid for participation in fund raising exercises for AIM-listed companies in a way that market structure has made difficult in the past.
- The platform has been operating in beta mode for the past 12 months and now has an updated website, free registration and includes every AIM-listed company.
- The Company is also pleased to announce that it recently successfully closed a Series “A” fund raising round of £500,000 underpinned by key strategic and institutional investors.
- In addition, the Company has appointed Dave Mutton as its Chief Operating Officer.
The Series “A” fund raising will enable PrimaryBid (https://www.primarybid.com/) to further develop its offering, build market position and boost awareness of its unique technology-led investing platform.
The fund raising has been backed by a number of key brokers and institutional investors, including Shore Capital, finnCap, Arden Partners, high net worth individuals and an investment company majority owned by funds managed by Henderson Global Investors.
Dave Mutton is an experienced marketer with more than 20 years’ experience in technology companies, including senior marketing and operational positions at Amazon (Head of Business Development in the UK), Yahoo (Head of Commerce, Yahoo Europe) and StepStone (Marketing Director).
Commenting on today’s launch, Dave Mutton, COO, said:
“We are excited to be now formally launching PrimaryBid and being in a position to announce the successful Series “A” fund raise. It is critical to PrimaryBid’s success that we gain the trust of individual investors and the support of the City community. The fund raising has shown that brokers and other institutions support the concept of allowing private investors to gain the same access to investing opportunities in AIM-listed companies that they currently enjoy. Indeed, we would expect institutions to also use the platform alongside individual investors, helping us create a service that will become an integral part of any new share issue on AIM.”
Sam Smith, CEO finnCap added:
“We believe it is important to offer the same investment opportunities to investors of all types. We are therefore delighted to be working with PrimaryBid to provide access to fundraisings for retail investors. It brings a simple crowdfunding approach to IPOs and fund raisings, and this could also improve market liquidity.”
|Dave Mutton,COO||Tel: +44 7889 736318|
|Philip Ranger (PR enquiries)||Tel: +44 7768 534641|
About PrimaryBid – “AIM shares on your terms”
PrimaryBid is an online investment platform allowing private investors to gain direct access to placings, fund raisings and IPOs of AIM-listed companies. The platform is open to all investors and is supported by the broker community as a way of accessing, on behalf of their AIM clients seeking capital, the large and active private investor market, as well as institutions.
Unlike typical equity crowdfunding opportunities, which focus on high risk unlisted companies, PrimaryBid allows private investors to bid for participation in future fund raising exercises for listed equities in a way that regulation and market structure has made difficult in the past. As private investors account for over 60% of secondary investments on AIM*, there is a clear need for the PrimaryBid platform.
PrimaryBid is funded by private and strategic investors and brokers including Shore Capital, finnCap, Arden Partners and an investment company majority owned by funds managed by Henderson Global Investors.
Listing of a company on the PrimaryBid platform is not an indication that any fundraise is likely or imminent and all bids by investors are speculative.
PrimaryBid Limited is an appointed representative of Darwin Strategic Ltd which is authorised and regulated by the FCA.
The platform formally launches on 3 March, 2016 after operating in a Beta format since March 2015 and has raised over $1m on behalf of AIM listed companies to date.
* Source: Aim Advisers
About Dave Mutton
Dave Mutton is an experienced internet professional with more than 20 years’ experience, including senior marketing and operational positions at Amazon (Head of Business Development in the UK), Yahoo (Head of Commerce, Yahoo Europe) and StepStone.
Prior to joining PrimaryBid, he was Marketing Director for Macmillan Science and Education for both Digital Science and Digital Education investment divisions. Dave provided marketing guidance and support across a portfolio of 14 disruptive technology companies in EMEA and the USA.
As CMO of Zattikka, the mobile and social games company, he was part of the team that raised $20m on AIM in April 2012. In addition, he re-engineered the commercial proposition of one of the company’s fantasy football games, significantly boosting revenue and player growth.