BondEvalue raises USD6 million in Series A round led by MassMutual Ventures and Citigroup
Summary
The latest round brings the total raised by the company to USD10 million and affirms investor confidence as its digital exchange for trading fractionalised bonds continues to gain momentum. Other investors included existing shareholders Potato Productions, a company helmed by entrepreneur Lee Han Shih, and Octava, a Singapore-based family office. The company’s proprietary technology and enterprise-grade blockchain enables BondbloX investors to buy and sell bonds in denominations of US$1,000 instead of the usual USD200,000, and through a public exchange where prices are highly transparent. “We are excited about the future and are focused on executing our mission of bringing bond investing to the so-called HENRYs (High earners, not rich yet), who hitherto were unable to buy bonds.” BondEvalue will use the proceeds to increase its international members. Alongside Northern Trust, Citi will join the BondbloX Bond Exchange as an asset servicing provider and as a strategic partner to the BondEvalue ecosystem.