Primary Portal, a digital platform that streamlines and digitizes equity capital market processes for banks and asset managers, has successfully completed the first stage of its £7.5 million Series A funding round, led by DB1 Ventures, the venture capital arm of Deutsche Börse.
Alongside DB1 Ventures, existing investors Dutch Founders Fund and Flow Traders participated in the funding round for the London-based startup, which was founded by equity capital markets experts John Bentinck and Ilan Leshem.
The platform currently serves over 90 banks and 400 institutional investors, aiming to transform the traditionally analogue, labor-intensive, and error-prone equity issuance space by developing an infrastructure that enhances interoperability among capital market systems.
The funding will be utilized to expand Primary Portal’s offerings, particularly by enhancing connectivity between asset managers’ order management systems and banks, as well as providing data and analytical tools.
Stefan Maassen, head of capital markets and corporates at Deutsche Börse, commented, “By digitizing communication and workflows, Primary Portal facilitates efficient connectivity between asset managers and banks in equity issuances, improving the process for companies to raise capital.”