BNP Paribas Securities Services invests in Proxymity’s latest fundraising round
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BNP Paribas Securities Services invests in Proxymity’s latest fundraising round 25 March 2022France Reporter: Jenna Lomax
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BNP Paribas Securities Services (BNP Paribas) has invested US$6 million in Proxymity’s latest fundraising round.
Proxymity will use the funds to further expand the company's platform in key global markets to deliver digital end-to-end investor communications.
BNP Paribas is the ninth major global financial service to join the consortium backing the digital investor communications platform.
BNP Paribas’ funding brings Proxymity’s Series B fundraising round to a total of $37 million.
Original consortium investors of Proxymity — BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, J.P. Morgan, and State Street — also participated in the Series B funding round.
The initial stage of Series B fundraising of $31 million was announced by the company in December 2021, a total invested by existing members of the original consortium. The timeframe for the funding round was extended for BNP Paribas.
Since its launch in April 2020, Proxymity has provided digital access to more than 12,000 meetings in over 25 markets worldwide.
Dean Little, co-founder and CEO of Proxymity comments: "We are now backed 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 improving the ecosystem for everyone."
Bruno Campenon, head of the financial intermediaries and corporates client line at BNP Paribas Securities Services, says: "Proxymity 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."
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