UK fintech funding round-up: Bondaval, Etrading Software and Taxd
This week’s handy Friday funding round-up includes three UK-based fintech start-ups – Bondaval, Etrading Software and Taxd.
London-based B2B fintech Bondaval has secured $15 million in a Series A funding round led by Talis Capital, bringing its total funding to more than $25 million to date.
Bondaval raises $15m
Existing investors in the round include Octopus Ventures, Insurtech Gateway, TrueSight, Expa and new investors Talis Capital, FJ Labs and Broadhaven Ventures. Thomas Williams, general partner at Talis Capital, will join Bondaval’s board.
Founded in 2020 by Tom Powell and Sam Damoussi, Bondaval’s technology helps modernise and simplify B2B payment security, by fractionalising the underwriting process and cost.
Bondaval says this makes it possible to cover risks “more comprehensively, expeditiously, and across more applications”. It gives credit teams the certainty that their receivables will be secured through its technology-enabled and non-cancellable MicroBonds.
Bondaval will use the funding to hire members to its team, expand into new markets, build more use cases for its platform and invest in its intellectual property.
London-based capital markets tech firm Etrading Software has received a “significant” investment from LDC, the private equity arm of Lloyds Banking Group.
Founded in 2004, Etrading Software provides technology solutions to financial institutions and industry initiatives, helping them address “highly complex and constantly evolving” market and regulatory challenges. It designs, builds and operates technology solutions for the front office for fixed income OTC markets.
Sassan Danesh, CEO of Etrading Software, says: “LDC’s investment will cement our position as one of the leading technology providers to global capital markets.
“One immediate benefit is to strengthen our proposition for creating a Consolidated Tape market data infrastructure for increased market transparency in the UK and Europe.”
London-based consumer fintech firm Taxd has raised an undisclosed sum in pre-seed funding to help individuals and businesses complete tax returns “efficiently”.
Taxd raises funds
The round includes participation from investors including Q Ventures, with the funds being put to use for the start-up’s growth.
“Our goal is to make tax easy for people and businesses through the use of technology and automation,” says co-founder of Taxd, Arjun Kumar.
“The pre-seed investment means we are able to go to market in a more meaningful way and at an increased pace to help impact the millions of people across the UK who struggle with understanding tax compliance.”
Founded in 2021, Taxd aims to provide customers with a “fast and cost-effective” way of managing their personal, business and freelance tax returns, claiming to cater to “complex” tax situations including residence and foreign income, and areas where individuals could not file online or had to resort to expensive alternatives.
