BondbloX, the pioneering fintech firm based out of Singapore, has successfully garnered $6M in a Series B funding round. This firm is known for running a digital exchange that allows users to trade both fractional and full-size bonds.
- Who’s Got Their Back: The notable players who participated in this latest funding round include Beacon Venture Capital, the venture capital division of Thailand’s Kasikornbank, along with previous investors Citigroup and MassMutual Ventures.
- Funding Use: The influx of capital will be used to expand BondbloX’s platform and extend its footprint to Gujarat International Finance Tec-City (GIFT City), a prominent IT hub located in India.
- Startup Story: BondbloX, originally established as BondEvalue in 2016, operates a unique platform that democratizes the bond market by making it more accessible to the average investor. They achieve this by providing these services at a fraction of the traditional cost.
- Numbers Game: BondbloX users can start trading with a minimum of $1,000, far less than the usual minimum bond investment requirement of $200,000.
- Additional Charges: The platform charges users a mere US$1.50 per trade and imposes a 0.2% annualized fee on assets under management.
In its last funding round in July 2021, BondbloX secured $6M in a Series A round, which was co-led by Citigroup and MassMutual Ventures.
