Primary Portal, a platform that aggregates and digitises equity capital market processes, has successfully completed the first stage of its £7.5m Series A.
The round was spearheaded by the venture capital arm of Deutsche Börse Group, DB1 Ventures, and also saw additional contributions from existing shareholders Dutch Founders Fund (DFF) and Flow Traders.
This substantial injection of capital underscores the growing confidence in Primary Portal’s mission to transform the traditionally cumbersome and error-prone equity capital markets. By fostering greater interoperability within capital markets systems, Primary Portal is setting new standards for efficiency and connectivity.
The company intends to use the new funds to expand its offerings significantly. This expansion includes enhancing the connectivity between asset managers’ order management systems and banks, which will enable straight-through processing of capital markets transactions for the first time. Furthermore, Primary Portal is set to advance its analytical data solutions, providing state-of-the-art, AI-driven analytics tools to its clients.
In addition to these technological advancements, the funding will help bolster the company’s market position and accelerate its growth in the digital space. Primary Portal has already garnered a robust user base, with over 90 banks and 400 institutional investors currently leveraging its innovative platform to streamline equity issuances.
Primary Portal CEO John Bentinck expressed his enthusiasm about the new partnership with Deutsche Börse, stating, “We are delighted to welcome Deutsche Börse as a shareholder and are very excited to work together with them in further enhancing connectivity and digitisation for capital markets. Their investment is a strong endorsement of our collaborative approach to bringing digital solutions to market participants.”
Echoing this sentiment, Stefan Maassen, Head of Capital Markets & Corporates at Deutsche Börse, highlighted the strategic alignment between the two entities: “At Deutsche Börse, we believe in innovative solutions to shape capital markets and are committed to strengthening the ecosystem. By digitising communication and workflows, Primary Portal paves the way for efficient connectivity between asset managers and banks in equity issuances, improving the process for companies to raise capital. Our partnership and commitment underscore our confidence in Primary Portal, its hard-working team and the European equity market.”
Further investment is anticipated as Primary Portal expects more investors to join the round in a second close later this year.
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