Tether led the Series A investment to help the blockchain platform scale its community and institutional offerings.
"The crypto community has only a few great projects and we are excited by the investment from Tether International as it will help us deliver [American dollar-based] services to all our users,"
The strategic funding round was backed by eight major financial institutions including BNY Mellon, Citi, Clearstream, Computershare, Deutsche Bank, HSBC, J.P. Morgan, and State Street.
"We’re extremely proud of what Proxymity has achieved so far within Citi since we developed the platform in 2017. To date, Proxymity has supported over 3,000 shareholder meetings and, after successful pilots, we’ve fully launched the platform in the UK, Germany, The Netherlands, Belgium, Austria, and Australia, as well as a pilot in Spain,"
The funding comprises a £200m securitisation facility and £105m in junior debt.
"It is largely unprecedented for a start-up to sign such significant credit facilities with institutional partners. That we’ve been able to do so is a powerful endorsement of our business proposition and the brand that Free2 plans to develop."