Digital Debt Capital Markets raises £4.32mm in its second funding round to develop agoraPlatform
Summary
LONDON--(BUSINESS WIRE)--Digital Debt Capital Markets Ltd (“DDCM”), a UK based techfin company, providing technology to enhance, upgrade and improve communication and processes from a bond’s issuance to repayment at its term announces the closing of its follow-on seed round, raising £4.32mm from a group of individuals and family offices. DDCM is now completing the rigorous technology onboarding required to work with these critical institutions and conducting beta testing with several bond market participants that has already generated some excellent initial results. The whole reason we founded R3 and developed Corda from the ground up was to provide a scalable, robust and regulatorily compliant platform fit for the exacting standards of complex global business, including the financial services industry. The agora software will be used by issuers, arrangers and multiple service providers to the international bond markets, from the pre-mandate stage, during execution, pricing and primary settlement and throughout the secondary life of the security until its final redemption. He was most recently the Chairman of Debt Capital Markets at Barclays having previously held senior roles in fixed income at Salomon Bros and Citigroup and has close and long-standing relationships with many of the world’s most prolific bond issuers.