BondEvalue Pte. Ltd. Raises US$6m in Series B Round

Singapore-based Fintech company BondEvalue Pte. Ltd. has successfully completed a Series B round with new investor Beacon Venture Capital, the corporate venture arm of Thailand’s Kasikornbank, joining existing shareholders MassMutual Ventures and Citigroup in the funding. Other investors in the round include existing shareholders Potato Productions and Octava.

Expansion and Growth Plans

The latest funding round, following a Series A raise of US$6m in 2021, will enable BondEvalue to scale its digital exchange for trading fractional and full-size bonds, known as BondbloX Bond Exchange (BBX). Additionally, the company plans to expand internationally to Gujarat International Finance Tec-City (GIFT City) in India, a market that has recently gone live.

BondbloX Bond Exchange (BBX)

The BondbloX Bond Exchange, powered by distributed Ledger technology, provides a platform for investors to buy and sell bonds in denominations of US$1,000 instead of the usual US$200,000. BBX aims to create a public exchange where bond prices are transparent and accessible to individual investors.

Interest and Future Plans

Following the launch of the platform to individual investors last month, BBX has seen strong interest from global clients. The company also has plans to list US Bonds (Treasuries and Corporate Bonds) on the platform in the future, further expanding its offerings.

Partnership with Citi

An announcement was made last month that Citi became the first digital custodian participant of BondbloX Bond Exchange (BBX) for the institutional market. The partnership allows Citi’s eligible clients to become BBX participants and start trading bonds almost immediately.

Company Statements

Dr. Rahul Banerjee, Co-Founder and CEO of BondEvalue, expressed gratitude for the support from new and existing investors in the Series B round. He emphasized the company’s mission to provide individual investors with access to the bond market on par with institutional firms.

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Beacon VC’s managing director, Thanapong Na Ranong, recognized BondEvalue’s innovative approach to bond investing and the potential for digital Ledger technology to reshape the bond market. Meanwhile, Henry Salmon, Head of Investments, Securities Services at Citi, commended BondbloX’s embrace of new technology and its unique value proposition in the bond market.

The Series B funding and the addition of new investors like Beacon Venture Capital further solidify BondEvalue’s position as a leader in the fintech sector, with expansion and innovation at the forefront of its growth strategy.

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By Team