Australian FinTech company profile #68 – PrimaryMarkets
1. Company Name: PRIMARYMARKETS
2. Website: www.primarymarkets.com
3. Key Staff & Titles:
Jamie Green – CEO
Gavin Solomon – Founder & Executive Chairman
Marcus Ritchie – COO
Nick Capp – Founder & Non-Executive Director
Philip Reicherz – Strategic Advisor
Joti Singh – GM – Operations & Registry Services
Kate Graham – Head of Secondary Trading
Rick Solomon – CTO
Oscar de Vries – Senior Manager
Tiffany Fok – Senior Manager
4. Location(s): Sydney, Australia
5. In one sentence, what does your fintech do?: PrimaryMarkets is an independent Global Trading Platform – Listing and Providing Liquidity for Unlisted Securities providing end to end solution for trading existing securities, raising new capital and full transaction management from trading through to digital registry services.
6. How / why did you start your fintech company?: By establishing a first of its kind online marketplace for illiquid securities and investments, to give sophisticated, wholesale, professional, accredited investors the opportunity and the ability to get liquidity in this growing Unlisteds market.
7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?: The marketplace for private company shares has evolved rapidly over the past few years in response to changing market dynamics and increasing interest in the next generation of large online companies. Hence, since launching in February 2016, PrimaryMarkets has reviewed over 1,400 investment opportunities, listed over 335 opportunities and traded A$105M+ in securities. The current global investor network database stands at 110,000+. Together with achieving a diverse shareholding of Family Offices, High Net Worths, institutional, professional and sophisticated investors, which is led by a highly-professional board and management with strong marketplace experience.
8. What’s some advice you’d give to an aspiring start-up?: Listen to the market
9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?: PrimaryMarkets is looking to expand into Asia with targeted footholds and already existing relationships with broker-dealers in Singapore, Hong Kong and China.
10. What other fintechs or companies do you admire?: Forge (now merged with Sharespost), NASDAQ Private Markets and Carta – all USA players heading to unicorn status.
11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?: Most interesting moment for PrimaryMarkets was being able to transact nearly A$10M in Tyro Payments shares within a few short weeks after the sellers failed to source any buyers using their network of bank managers, lawyers, stock brokers and the like. PrimaryMarkets supported secondary trading in Tyro for over 2 years and transacted over A$38M+ of Tyro shares from A$0.93 up to A$2.20 before IPO in December 2019 @ A$2.50. Tyro has traded as high as A$4.52 in past 12 months.