Law firm Allen & Overy made an equity investment in a financial technology company.
Nivaura is a fintech company developing a cloud based service for the issue and administration of financial instruments by small and medium-sized issuers. Allen & Overy debt capital markets partner Phil Smith has also joined the Nivaura board as a non-executive director.
Nivaura’s tech solution will make it affordable for SMEs to access funding through the capital markets. In doing so, it has the potential to create a new asset class and offer investment banks a new line of business.
Hugely Important
To date Nivaura has completed two fully automated issuances of bonds on its platform within the Financial Conduct Authority (FCA) sandbox. Details of the equity investment have not been made public.
Nivaura was the first company invited to work in Fuse, a tech innovation space based in Allen & Overy’s London offices. Fuse is targeting disruption and innovation in the areas of legaltech, regtech and dealtech.
«It very quickly became evident that what the Nivaura team is working on could be hugely important», said Phil Smith, who leads the relationship with Nivaura.
