BondbloX raises $6m to expand bond trading platform

BondbloX’s Rajesh Johar (left) and Rahul Banerjee / Photo credt: BondbloX

BondbloX, a Singapore-based fintech company that runs a digital exchange for trading fractional and full-size bonds, has raised US$6 million in a series B round. Beacon Venture Capital, the corporate VC arm of Thailand’s Kasikornbank, joined the round along with existing investors Citigroup and MassMutual Ventures.

The new funding will enable BondbloX to grow its platform and extend its reach to Gujarat International Finance Tec-City (GIFT City), an IT hub in India.

Funding details

• Funding amount: $6,000,000
• Investors: Beacon Venture Capital, MMV (MassMutual Ventures), Citigroup
• Stage: Series B
• Source

Established in 2016 as BondEvalue, BondbloX runs a platform that makes buying and selling bonds more accessible. It does so by offering these services at a fraction of its usual cost – BondbloX users can start trading with US$1,000, while the typical minimum amount for bond investments is US$200,000.

The platform charges users around US$1.50 per trade and a 0.2% annualized fee on assets under management.

BondbloX last raised funding in July 2021, securing US$6 million in a series A round co-led by Citigroup and MassMutual Ventures.

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