Proxymity Secures £ 4.56m Series B Investment From BNP Paribas Securities Services – UK Technology Investment News

Proxymity announces a new strategic investment from BNP Paribas Securities Services

  • BNP Paribas Securities Services plans to adopt the platform in multiple markets and becomes the ninth major global financial institution to join the Proxymity Consortium
  • The investment extends Series B, its second round of funding, with an additional $ 6 million, bringing the total raised to $ 37 million.
  • Proxymity will use funds to further expand the company’s platform in key global markets to provide end-to-end digital communications for investors
  • Investors from the original consortium BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, JP Morgan and State Street also participated in the ongoing round

LONDON – March 23rd Proximitythe leading communications platform for digital investors, today announced that BNP Paribas Securities Services has invested $ 6 million in its latest Series B fundraiser. BNP Paribas Securities Services, one of the largest custodian banks in the world, is the ninth major financial institution in the world to be part of the Consortium that supports Proxymity.

The initial phase of the $ 31 million Series B fundraiser was announced by the company in December 2021, a total invested entirely by existing members of the original consortium. The series has been extended to BNP Paribas Securities Services and this investment is in line with the Proxymity team’s purpose and ambitions to accelerate market adoption and unlock the benefits of digital investor communications for the entire industry ecosystem.

Since its launch in April 2020, Proxymity has experienced significant growth by providing digital access to over 12,000 meetings in over 25 markets around the world. As previously announced, the company will use the new funds to further expand its product and market footprint by tapping into the platform’s capabilities in delivering global digital communications to investors.

Co-founder and CEO, Dean Little, commented.

We are delighted to welcome BNP Paribas Securities Services to the Proximity Consortium. Immediately, this investment improves our global reach and brings us closer to our vision. ” He added “We are now supported by seven of the top ten global custodians, representing over $ 200 trillion in assets under custody. Together, they are helping to fuel both the international level of interest in Proxymity and supporting our commitment to improve the ecosystem for all.. “

Said Bruno Campenon, Head of Financial Intermediaries and Corporates Client Line of BNP Paribas Securities Services

Proximity is changing investor communications by connecting issuers and investors through a transparent, real-time and efficient digital ecosystem. We at BNP Paribas Securities Services are delighted to be part of this initiative ”.

Teresa Afonso, Product Manager, Financial Intermediaries and Corporate Client line of BNP Paribas Securities Services, added:

“We are delighted to partner with Proxymity to support the development of best practice disclosure and proxy voting services for the benefit of the industry as a whole.”

Proxymity is an innovative communication platform for investors that connects issuers, intermediaries and investors via their proprietary digital network. Its industry-leading services include real-time, fully transparent digital proxy voting and shareholder disclosure, automating shareholder ID requests in industry-compliant formats without the need for any manual intervention.

Co-founders Dean Little and Jonathan Smalley, who have combined many years of industry experience developing housing products, now lead a successful business serving investor markets around the world, with a team of over 100 employees. The platform was first launched in the UK in 2018, following a collaborative pilot partnership with Computershare, and the company was spun off from Citi in April 2020.

In addition to its headquarters in London, UK, and customer hubs in both Manchester, UK, and Melbourne, Australia, Proxymity will continue to maintain its R&D team in Tel Aviv, Israel.

About proximity

Proxymity connects the global ecosystem of issuers, intermediaries and investors digitally in real time, bringing unprecedented transparency, efficiency and accuracy to traditional paper-based processes. Chosen by the largest financial institutions in the world, it is the premier communication platform for digital investors, serving over 25 markets around the world.

Our solutions give listed companies the assurance that their AGM / EGM agendas are broadcast as a “source of gold” and provide institutional investors time to research and vote on business decisions, as well as effective digital confirmation that their votes have been received. The digital native platform, built on highly scalable technology, ensures full compliance with the latest regulations such as the Shareholders’ Rights Directive (SRD II).

Proxymity promotes better environmental, social and corporate (ESG) governance by improving communication between issuers and investors and making it easier for intermediaries to be efficient, timely and compliant when serving their clients.

The company is supported by a global consortium of the most influential financial institutions in the industry (BNP Paribas Securities Services, BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, HSBC, JP Morgan, State Street).

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Proxymity Secures £ 4.56m Series B Investment From BNP Paribas Securities Services – UK Technology Investment News

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