British FinTech platform PrimaryBid has closed a $50m (£38.4m) Series B investment round from a leading group of investors.

The fundraising follows a period of rapid growth in 2020 for the firm that connects retail investors with public companies raising capital.

The firm said it has helped UK retail investors access billions of pounds of corporate fundraisings during the COVID-19 pandemic, including FTSE 100 Compass Group, Ocado, Taylor Wimpey and Segro.

The proceeds will be used for key senior hires and technology investments as the platform scales into international markets.

PrimaryBid attracted global investors in its Series B fundraise including London Stock Exchange Group, Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures and ABN AMRO Ventures to facilitate expansion into international markets.

PrimaryBid has completed over 41 capital raisings for UK listed companies and investment trusts since April 2020, working alongside global investment banks to broaden investor access as companies recapitalised their balance sheets and raised growth capital.

Anand Sambasivan, CEO of PrimaryBid, said: “The COVID-19 pandemic demonstrated the effectiveness of the public markets, with companies recapitalising quickly and efficiently.

“We are privileged to welcome a number of leading global investors in our Series B. Our mission is to enhance fairness, inclusivity and transparency in capital markets, and these investors all share that commitment and global ambition.”

In November last year PrimaryBid signed a strategic commercial venture with London Stock Exchange, in an agreement which combined London Stock Exchange’s market infrastructure with PrimaryBid’s digital distribution engine.

Charlie Walker, Head of Equity and Fixed Income, Primary Markets at London Stock Exchange said of the new funding: “This investment builds on our collaboration with PrimaryBid and is part of London Stock Exchange Group’s commitment to broadening retail investor access to public equity markets.

“Through PrimaryBid’s innovative offering, retail investors have been able to access capital raisings on the same terms as institutional investors, supporting the U.K.’s public companies by providing additional capital and liquidity. 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.”