Singapore Fintech BondEvalue Acquires $6M through Sequence A from Citigroup, MassMutual Ventures SE Asia, Others

Singapore-headquartered Fintech agency BondEvalue has secured $6 million in capital by way of its Sequence A spherical. The corporate has raised $10 million in whole (thus far).

MassMutual Ventures Southeast Asia and Citigroup have been the brand new buyers in BondEvalue’s newest funding spherical and are actually anticipated to joint the agency’s Board of Administrators.

Different buyers in BondEvalue‘s spherical reportedly included current shareholders Potato Productions, a agency that’s led by entrepreneur Lee Han Shih, and Octava, a Singapore-based household workplace.

BondEvalue’s administration famous that they’ll use the funds raised to extend their international  members. The corporate additionally introduced its new enterprise in Mexico that’s being led by Jaime Zenizo, who beforehand labored as head dealer at HSBC Mexico.

The three way partnership will set up a Peso bond trade and goals to symbolize  the primary native foreign money growth by BondEvalue.

BondEvalue reportedly acquired a Acknowledged Market Operator (RMO) approval from the Financial Authority of Singapore (MAS) as a way to function BondbloX Bond Alternate, a fractional bond trade (in October 2020).

The agency’s proprietary tech and enterprise-grade blockchain tech allows BondbloX buyers to buy and promote bonds in denominations of solely $1,000 as a substitute of the a lot bigger $200,000, and through a public trade the place costs are extra clear.

Rahul Banerjee, Co-Founder and CEO at BondEvalue, acknowledged:

“Citi and MassMutual are behemoths within the bond market. Their assist of our imaginative and prescient to have a clear bond market will speed up our momentum. We’re excited concerning the future and are targeted on executing our mission of bringing bond investing to the so-called HENRYs (Excessive earners, not wealthy but), who hitherto have been unable to purchase bonds.”

Chris Cox, International Head of Information and Digitisation and Strategic Tasks, and EMEA Head of Securities Providers at Citi, remarked:

“We’re delighted to shut our funding in BondEvalue. Alongside Northern Belief, Citi will be part of the BondbloX Bond Alternate as an asset servicing supplier and as a strategic associate to the BondEvalue ecosystem. We’re excited concerning the prospect of digitalisation of conventional belongings and to be a part of that journey with BondEvalue.”