London-based digital platform Primary Portal, which enhances and digitalizes equity capital market processes for banks and asset managers, has secured £7.5 million in Series A funding, led by DB1 Ventures with participation from existing investors Dutch Founders Fund (DFF) and Flow Traders.
- Founded in 2020 by John Bentinck and Ilan Leshem, Primary Portal develops an equity capital markets platform that connects key stakeholders in the issuance process with a growing user base of investment firms and banks, seeking motivated individuals passionate about finance, tech, and entrepreneurship.
- The Primary Portal connects 90 banks and 400 institutional investors, with over 1,500 active users. It has facilitated the publication of more than 5,100 deals and the distribution of over 9,750 term sheets.
Details of the deal
- The investment was led by DB1 Ventures, the venture capital arm of Deutsche Börse Group, based in Frankfurt. DB1 Ventures invests in startups across the fintech and technology sectors and has a portfolio that includes 14 startups, 22 investments, and 6 exits, with notable examples such as FundsDLT, Forge Global, and Figo.
“At Deutsche Börse, we believe in innovative solutions to shape capital markets and are committed to strengthening the ecosystem. Our partnership and commitment underscore our confidence in Primary Portal, its hard-working team and the European equity market,” Head of Capital Markets and Corporates at Deutsche Börse, Stefan Maassen, stated.
- The round also saw participation from existing investors, Amsterdam-based VC Dutch Founders Fund (DFF), and Flow Traders. Additionally, the startup anticipates that more investors will join the round in a second closing later in the year.
- The new capital will enable Primary Portal to expand its offerings by connecting asset managers' order management systems with banks and enhancing its analytical data solutions, providing powerful data and analytical tools to both banks and asset managers.
“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,” founder at Primary Portal, John Bentinck, commented.
