Proximity raises $31 million in second-round investment stage

Proxymity has raised US$31 million in its second-round investment stage.

Proxymity will use the funds to expand its product and market footprint, as part of a wider effort to deliver digital global investor communications.

Original consortium investors BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, J.P. Morgan, and State Street participated in this latest round of funding.

Proxymity is a platform that connects issuers, intermediaries, and investors via its proprietary digital network. Its services include real-time and digital proxy voting, as well as shareholder disclosure.

The Proxymity platform also drives solutions compliant with all the security and data protection requirements established under the EU’s second Shareholder Rights Directive (SRD II) regulation, as well as shareholder rights.

Co-founders Dean Little and Jonathan Smalley formulated the idea for Proxymity while working in Citi's equities and securities services custody product group. The company has now expanded to more than 100 employees.

The platform was first launched in the UK in 2018, following a collaborative pilot partnership with Computershare.

Commenting on the second round of funding, Little says: "We're delighted to announce this successful round of fundraising, both in terms of the confidence our investors have shown in us, and in accessing new funds to fuel our significant global momentum. We continue to work closely with all our founding consortium members, and together, the Proxymity team is delivering on our vision, changing the industry ecosystem for the better."