BondIT raises $14 million for development of investment technologies in bonds
BondIT raises $14 million for development of investment technologies in bonds
The Israeli fintech company has developed a system that allows institutional entities to automatically manage their clients' bond portfolios
Israeli fintech company BondIT, which develops systems for bond investment managers, has announced the raising of a $14 million Series C round. The round was led by Bank of New York Mellon and existing investors, including China's Fosun Group and Wind, Germany’s Talanx and America’s SixThirty Ventures. Jon Goddard of Mellon will join the company's board of directors.
BondIT's CEO and founder, Etai Ravid, said that the investment will allow the company to speed up the development of new solutions - and to add products and services in the future. As mentioned, the company is developing technology for bond investments, which analyzes market data using artificial intelligence. Its system allows institutional entities to automatically manage their clients' bond portfolios while keeping a detailed track of each investment in the portfolios.
BondIT was founded in 2015. It employs about 70 people, with headquarters in Herzliya, and has branches in the U.S. and Germany. About two years ago, it acquired Scorable, which provides a system for predicting bond ratings, in exchange for shares at an estimated value of $12-16 million.
The company has raised $32 million to date.
