Primary Portal, a fintech developing and operating digital infrastructure solutions for equity capital markets, has secured a €8.9m (£7.5m) Series A investment.
This first half of its funding round was led by the venture capital arm of Deutsche Börse Group, DB1 Ventures with participation from existing shareholders Dutch Founders Fund and Flow Traders.
The London firm expects more investors to join the round in a second close in the second half of the year.
Founders John Bentinck and Ilan Leshem will use the funds to expand their company’s services by connecting asset managers’ order management systems with banks, enabling straight-through processing in capital markets transactions for the first time.
Primary Portal, which says it already has 90 banks and 400 institutional investors using the platform, will also expand its analytical data solutions, providing data and analytical tools to banks and asset managers.
“The demand for AI-driven analytics products is immense. Adding next-generation analytics on the back of real-time, golden-source data is merely the beginning,” said Leshem.
“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,” said Bentinck.
“Their investment is a strong endorsement of our collaborative approach to bringing digital solutions to market participants,” he added.
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