Bondaval raises £12.2m in Series A funding led by Talis Capital to scale operations
The Series A round was led by Talis Capital to support team expansion and global growth.
≈ £12.3M at $1 = £0.8203 on 15 Dec 2022
BondAval is an insurtech startup that provides a novel form of payment security for supply chains through proprietary MicroBonds. The company operates in both the UK and the US.
London-based B2B insurtech firm Bondaval has secured £12.2m in a Series A funding round led by Talis Capital. The capital will support the company as it scales its team, enters new international markets, and extends its platform into additional industry sectors.
The round also saw participation from existing backers including Octopus Ventures, Insurtech Gateway, TrueSight, and Expa, alongside new investors FJ Labs and Broadhaven Ventures. Thomas Williams of Talis Capital will join the board following the investment.
From the founder
"When we first established the business less than 2 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."
Tom Powell
CEO and Co-Founder at BondAval
Investor perspective
"What the Bondaval team has been able to achieve in its first couple of years is truly remarkable. We rarely see this pace and thoughtfulness of execution, which is a testament to the talented team that Tom and Sam are assembling, combined with exceptional demand for this product,"
Thomas Williams
General Partner, Talis Capital
Use of funds
- 01Grow the team
- 02Expand into international markets
Investors
Thomas Williams
Talis Capital
Tosin Agbabiaka
Octopus
Insurtech Gateway
TrueSight
Expa
FJ Labs
Broadhaven Ventures