Online bond investment platform IndiaBonds has raised Rs 32.5 crore ($3.77 million) in its maiden external funding round. The money was raised from a group of individual investors in the investment and technology sectors.The Mumbai-based company said the funds will be used to accelerate the growth of its digital platform and push efforts to make fixed-income investing more mainstream in India.鈥淲e have raised a 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,鈥 said Vishal Goenka, cofounder of IndiaBonds. 鈥淭his round allows us to continue on a high-growth trajectory, and we are only likely to look at institutional funding from sometime next year,鈥 he added.Founded in 2021 by Goenka and Aditi Mittal, IndiaBonds is registered with the Securities and Exchange Board of India (Sebi) as an online bond platform provider. It enables retail and institutional investors to invest in fixed-income products, including corporate bonds, government securities, and digital fixed deposits.Live EventsThe funding comes amid growing investor interest in bonds, following waves of investments in mutual funds, equities, and fixed deposits. Several fintech platforms, including Stable Money, Grip Invest, Wint Wealth, and Groww, are increasingly focusing on the bond investment space.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesIndiaBonds had launched a bond yield calculator in 2022 to help investors navigate pricing and yield calculations of corporate bonds.
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