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B2B InsurTech Bondaval raises $15m Series A

By Gloria Methri

December 15, 2022

  • AI-automated Credit Underwriting
  • B2B FinTech
  • B2B payment
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BondavalLondon-based B2B FinTech Bondaval announced that it has raised a $15 million Series A Round led by Talis Capital. Other investors include existing shareholders Octopus Ventures, InsurTech Gateway, TrueSight, Expa, and new investors Talis Capital, FJ Labs, and Broadhaven Ventures.

Bondaval says it will use the financing to build its team, progress global expansion, expand into additional sectors, and invest in its intellectual property. To date, the company has raised more than $25 million within a two-year period.

Founded in London in 2020, Bondaval’s proprietary technology can be used to modernise and simplify B2B payment security by fractionalising the underwriting process and cost.

The FinTech combines credit analysis technology with S&P A+ rated insurance backing to create a capital-efficient and cost-effective form of receivables protection that can be issued, renewed and claimed-on digitally. The company’s key offering is its MicroBonds, technology-enabled surety bonds that secure receivables and can be easily purchased, and managed, through the Bondaval platform.

Tom Powell, co-founder and CEO, said, “When we first established the business less than two years ago, we could only imagine how quickly the market would respond to our technology-led approach for payment security. We are honoured by the confidence shown by our existing investors and our new investors and the validation from our best-in-class clients. We look forward to increasing access to more favourable financial security for all parties involved in B2B credit transactions and demonstrating more applications for our MicroBonds.”

Thomas Williams, General Partner at Talis Capital said, “The simple elegance of MicroBonds unlocks several transformational use-cases, which have the potential to fundamentally alter credit markets. We see limitless potential for Bondaval and are delighted to partner with this world-class team.”

Returning investor Tosin Agbabiaka, from Octopus Ventures, added, “After backing Bondaval early on and working alongside them, it is more evident than ever that the team has both the prudence and the pace to build a category-defining business in credit and insurance. We continue to be impressed by Bondaval’s ability to develop this innovative solution, drive value to some of the largest companies in the world and continue building an exceptional team.”

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