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by Fintech Information Singapore
November 13, 2023
BondEvalue, a Singapore-based fintech firm that operates the digital bond trade BondbloX, has raised US$6 million in a Sequence B spherical. The corporate had beforehand secured US$6 million in a Sequence A fundraise in 2021.
The spherical was joined by Beacon Enterprise Capital, the company enterprise arm of Thailand’s Kasikornbank. Current shareholders MassMutual Ventures and Citigroup additionally participated within the spherical.
Different traders embody Potato Productions, an organization helmed by entrepreneur Lee Han Shih, and Octava, a Singapore-based household workplace.
The recent funds will allow the corporate to scale BondbloX Bond Alternate (BBX), its digital trade for buying and selling fractional and full-size bonds, and increase internationally to Gujarat Worldwide Finance Tec-Metropolis (GIFT Metropolis) in India. The trade additionally has plans to listing US bonds sooner or later.
This follows the announcement made final month that Citi is the primary digital custodian participant of BondbloX Bond Alternate (BBX) for the institutional market.
BondbloX is a digital trade that permits traders to purchase and promote bonds in denominations of US$1,000, as an alternative of the standard US$200,000. This makes bonds extra accessible to retail traders.
Dr. Rahul Banerjee
“We’re immensely honoured to welcome Beacon VC to our Sequence B spherical, in addition to different new and present shareholders together with Citi and MassMutual Ventures.
The bond market is damaged globally, and BondbloX is on a mission to permit particular person traders the identical entry to the market that institutional companies get pleasure from. We stay up for working along with Beacon VC and different traders to redefine bond investing,”
stated Dr. Rahul Banerjee, Co-Founder and CEO of BondEvalue.
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