Bondaval secures $15m for the future of B2B credit

Bondaval, a London-based B2B receivables and mini bonds FinTech reimagining the future of B2B credit, has raised $15m in Series A funding, led by Talis Capital.
The Series A round, which brings the total raised to more than $25m, also saw participation from Bonaval’s existing investors, Octopus Ventures, Insurtech Gateway, TrueSight and Expa, as well as its new partners Talis, FJ Labs and Broadhaven Ventures.
Founded in 2020 by am Damoussi and ex-England Rugby 7s captain Tom Powell, Bondaval is on a mission to redefine the future of B2B credit.
The startup’s FinTech product allows B2B financiers to rationalise credit and insurance underwriting, processing and cost.
Bondaval’s offering includes MicroBond, a no-cancellation financial instrument wholly underwritten through its digital platform without the customer putting down collateral. MicroBond is used by blue chip FTSE 100 and S&P 500-listed companies including oil majors Shell and BP to provide receivables coverage.
The company will use the funding to support a recruitment drive to extend its existing 20-person team, located across its branch offices in London and Austin, Texas. Proceeds will also help Bondaval enter more sectors and use cases, while refining its core FinTech IP.
Following the Series A raise, Octopus Ventures investor Tosin Agbabiaka predicted Bondaval would become a “category-defining” credit and insurance B2B platform.
Talis Capital’s GP Thomas Williams will join the board of directors.

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