Origin secures Series A financing from Clearstream and the Luxembourg Stock Exchange to automate bond issuance
Clearstream and the Luxembourg Stock Exchange led the financing round to support the development of automated debt issuance solutions.
Origin provides a global benefits intelligence platform that helps human resources teams manage and optimise employee benefits. The company uses artificial intelligence to turn fragmented vendor data into actionable insights.
London-based fintech firm Origin has secured a Series A funding round led by Clearstream and the Luxembourg Stock Exchange. The capital will be applied toward building a connected, end-to-end digital workflow for issuing, settling, and listing debt instruments.
Clearstream, a post-trade services provider under Deutsche Borse Group, joins the round alongside returning backer Luxembourg Stock Exchange, which previously took a stake in 2019. The partnership aims to streamline manual and repetitive tasks in the debt capital markets, starting with Eurobonds before expanding into other asset classes.
Origin currently supports a customer base of over ninety issuers and twenty dealers. The transaction remains subject to customary closing conditions and regulatory clearance, with completion anticipated in the fourth quarter of 2020.
From the founder
"We are very excited and proud to have the confidence of Clearstream and LuxSE in this transaction. This step is a fantastic validation of not just our technology, but also of the impact we have already had on the market and most importantly our customers. We look forward to working together with our new partners to make debt issuance cheaper, faster, and better for all market participants."
Raja Palaniappan
CEO and co-founder at Origin
Use of funds
- 01Continue product development
- 02Build out infrastructure