The latest round brings the total raised by BondEvalue, which runs a digital exchange for trading fractionalized bonds, to $10 million.
Singapore-based fintech BondEvalue has announced a $6 million raise in its Series A funding round, with MassMutual Ventures Southeast Asia and Citigroup among the new investors, joined by existing shareholders Potato Productions and Singapore-based family office Octava.
BondEvalue said it will use the proceeds to increase its international members, and announced the launch of a joint venture in Mexico helmed by former HSBC Mexico head trader Jaime Zenizo. The JV will form a Peso bond exchange and represents the first local currency expansion by the company.
Opening Bond Markets
Established in 2016, the company received regulatory approval last year for its BondbloX Bond Exchange (BBX), which aims to open institutional bond markets to more investor types by enabling faster, more transparent and lower-cost transactions.
For its launch, BBX partnered with brokerage UOB Kay Hian, Northern Trust as designated custodian, and multi-family office Taurus Wealth Advisors, as one of the first members of the exchange.
