Digital infrastructure development and operating services provider Primary Portal has concluded the first stage of its £7.5 million Series A funding round.
Led by DB1 Ventures, Deutsche Börse Group’s venture capital division, the round also saw continued investment from shareholders Dutch Founders Fund (DFF) and Flow Traders.
Expanding the company’s offering, the new investment will be used to connect asset managers’ order management systems with banks to facilitate straight-through processing in capital markets transactions, Primary Portal stated
Funding will also go towards the advancement of Primary Portal’s analytical data solutions, it added, with co-founder Ilan Leshem emphasising the growing market demand for AI-driven analytics products.
A second close for the funding round will take place later this year.
Commenting on the news, John Bentinck, co-founder, said: “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.”
Stefan Maassen, head of capital markets and corporates at Deutsche Börse, noted: “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.”
