Primary Portal, a trailblazing digital platform transforming equity capital market processes, has successfully raised €8.9 million in its Series A funding round. The round was led by DB1 Ventures, the venture capital arm of Deutsche Börse Group, with additional investment from existing backers Dutch Founders Fund and Flow Traders.
Primary Portal, founded by industry veterans John Bentinck and Ilan Leshem, is on a mission to digitize and streamline the traditionally analogue and cumbersome workflows in equity capital markets. With over two decades of experience, the founders are leveraging their expertise to build a platform that addresses inefficiencies and errors prevalent in the current system.
Currently, over 90 banks and 400 institutional investors use Primary Portal’s platform, highlighting its rapid adoption and the industry’s shift towards digitization. By creating an interoperable infrastructure, Primary Portal is setting a new standard for equity issuance processes.
“We are thrilled to welcome Deutsche Börse as a shareholder and look forward to enhancing connectivity and digitization for capital markets together,” said John Bentinck. “Their investment underscores our collaborative approach to bringing innovative digital solutions to market participants.”
The new funding will enable Primary Portal to expand its offerings, particularly focusing on connecting asset managers’ order management systems with banks, facilitating straight-through processing for the first time in capital markets transactions. This integration aims to significantly enhance efficiency and reduce errors in the equity issuance process.
Primary Portal is also set to enhance its analytical data solutions, providing powerful AI-driven 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 just the beginning,” says Ilan Leshem.
Stefan Maassen, Head of Capital Markets & Corporates at Deutsche Börse, emphasized the strategic importance of this investment: “At Deutsche Börse, we believe in innovative solutions to shape capital markets and are committed to strengthening the ecosystem. By digitizing 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.”
Primary Portal is poised for further growth, expecting additional investors to join the funding round in a second close later this year. The infusion of capital will not only accelerate the platform’s development but also reinforce its position as a key player in the digital transformation of equity capital markets.
