IndiaBonds, a SEBI-registered online bond platform, has raised INR 32.5 crore ($3.77 million) in its first external funding round. The money came from a select group of well-known individual investors from the investment and tech industries.
This is a big step forward for the company, which has been running without any outside funding for over four years.
The company will use the money to grow its platform and work towards its goal of making bond investing easy and popular for people all across India.
Vishal Goenka, Co-Founder of IndiaBonds, said, “We have raised friends and associates round from a very select set of individuals who are not just contributing capital but will be particularly important in terms of advice and guidance for our scale-up stage. Our investors are leaders in the investment and technology industry who are excited to see our current stage and the vast untapped potential that lies in the democratisation of the bond markets in India. This round allows us to continue on a high growth trajectory, and we are only likely to look at institutional funding from sometime next year.”
“We would also like to take this opportunity to thank our clients and teams who have been instrumental in building our vision of a Bond in Every Hand,” he added.
IndiaBonds was founded in 2021 by Vishal Goenka and Aditi Mittal. It’s an online platform designed to help people invest in bonds.
The platform lets both everyday investors and large institutions search, compare, and invest in different types of fixed-income products like corporate bonds, government securities, and digital fixed deposits.
According to founder Vishal Goenka, the investors in this round are mainly “friends and associates” who are helping with both money and useful advice. The company also plans to look for funding from larger institutions next year.
IndiaBonds has introduced helpful tools like a Bond Yield Calculator and a public Bond Directory to make bond investing more straightforward and more transparent for individual investors.
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