London-based Bondaval secures €15 million to expand its insurtech platform
Summary
Founded by a former England Rugby Sevens player, Tom Powell, and Sam Damoussi in 2020, Bondaval is modernising and simplifying B2B payment security. • None €15 million was raised in a Series A round, which brings the total raised to date to about €23.5 million • None Investors in the round include existing shareholders Octopus Ventures, Insurtech Gateway, TrueSight and Expa • None New investors Talis Capital, FJ Labs, and Broadhaven Ventures also participated and Thomas Williams, General Partner at Talis Capital, will join Bondaval’s board. Tom Powell, co-founder and CEO: ”When we first established the business less than 2 years ago, we could only imagine how quickly the market would respond to our technology-led approach for payment security. Currently, the startup’s main offering is its MicroBonds – technology-enabled surety bonds that secure receivables and can be easily purchased, and managed, through the Bondaval platform. We rarely see this pace and thoughtfulness of execution, which is a testament to the talented team that Tom and Sam are assembling, combined with exceptional demand for this product.
Funding
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