Singapore-based fintech firm BondbloX, specialising in digitising bond markets, has secured US$6 million in a Series B round.
Beacon Venture Capital, the corporate VC arm of Thailand’s Kasikornbank, joined the round along with existing investors Citigroup and MassMutual Ventures.
Potato Productions, led by entrepreneur Lee Han Shih, and Octava, a Singapore-based family office, also participated.
The new funding will enable BondbloX to expand BondbloX Bond Exchange (BBX), its digital platform for trading both fractional and full-size bonds, and support its international growth, including the recent launch in Gujarat International Finance Tec-City (GIFT City) in India.
Also Read: Authentick secures US$4M for wallet-free digital collectible purchases
Founded in 2016, BondbloX streamlines bond investing by enabling electronic tracking and trading for investors. Leveraging distributed ledger technology, BondbloX empowers investors to trade bonds in increments of US$1,000, a departure from the conventional US$200,000 denomination through a transparent public exchange.
“The bond market is broken globally, and BondbloX is on a mission to allow individual investors the same access to the market that institutional firms enjoy,” said Dr. Rahul Banerjee, Co-Founder and CEO.
BBX claims to have seen strong interest from global clients since launching the platform to individual investors last month. The company also has future plans to list US Bonds (Treasuries as well as Corporate Bonds) on the platform.
“The use of distributed ledger technology coupled with traditional financial custodians excites us and has great potential to reshape the bond market for all,” said Thanapong Na Ranong, Managing Director of Beacon VC.
BondbloX last secured funding in July 2021, raising US$6 million in a series A round co-led by Citigroup and MassMutual Ventures.
—
Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.
Image credit: BondbloX
The post BondbloX secures US$6M Series B to expand bond exchange platform appeared first on e27.