Augmentum leads fundraise for Peel Hunt-backed Retailbook
Investment platform Retailbook has secured a £4.5m fundraise as the Peel Hunt-backed firm attempts to survive a lacklustre spell for the UK’s capital markets.
The business, which helps retail investors get access to share issues normally reserved for institutional investors, has seen investors such as Augmentum Fintech join its list of shareholders.
Previous investors in the platform include Hargreaves Lansdown, Jefferies, and Rothschild & Co. After the most recent fundraise, founding partner Peel Hunt’s stake is set to drop below 50 per cent.
Launching its first IPO to retail investors in 2015 as Rex, the group has provided retail investor access to the UK’s two largest IPOs in the last year, Applied Nutrition and Raspberry Pi, and generated record Treasury bill demand.
In February, Retailbook poached the equity capital markets team from rival Primarybid, with as many as nine senior managers switching companies.
Retailbook’s Deal Notification Service
The fundraise comes as the firm launches its new Deal Notification Service, which will allow individual investors to receive live ‘Retail Offer Notifications’.
The fresh capital injection will allow the loss-making business to continue operations for at least another two years, sources told The Times.
Poor performance of UK capital markets has hampered the firm, as the number of IPOs on the London Stock Exchange has fallen to record lows.
Following the completion of the fundraise, Augmentum CEO Tim Levene is set to join the Retailbook board. Augmentum’s previous investments include trading platform Interactive Investor.
“We have had a relationship with the Retailbook team for some time, and their work to democratise investment access directly reflects Augmentum’s core mantra,” said Levene.
“With recent market reforms focused on enhancing UK market liquidity and the government’s emphasis on unlocking diverse capital pools, Retailbook is poised to play a crucial role.”
“This is another significant step for Retailbook, which became fully operationally independent of Peel Hunt with its own FCA authorisation in 2024,” added Peel Hunt chief Steven Fine.