BondAval
The future of credit security
Funding stage: Seed
What Bondaval does
BondAval is a B2B credit and insurance company that provides financial protection on the future payments of supply agreements. BondAval’s primary offering is a credit guarantee that an independent retailer can buy to ensure their supplier they will get paid in full and on time, whatever the circumstances.
Technology has transformed many types of B2C and B2B insurance, but guarantees and credit security solutions still rely on outdated providers and underwriting. BondAval is using technology to combine the security of a bond guarantee, with the ease of a digital customer journey.
By creating a “MicroBond”, they guarantee each discrete transaction in a supply agreement with an insurance contract from A rated insurers. This significantly reduces exposure and allows both retailers and suppliers to transact more cheaply, more efficiently, and with greater transparency than before.
Why we like it
If BondAval succeeds, it will drastically reduce the cost of providing credit security for B2B transactions and command a massive market, unlocking valuable working capital for businesses in the process.
Octopus will provide resources, expertise and our US office to help Bondaval expand in the UK and across the pond. As part of Octopus Group we can connect BondAval to Octopus Energy to explore commercial relationships with energy suppliers. Moreover, as part of a portfolio of 120+ companies, many of our portfolio companies who regularly execute supply agreements or sign up for credit guarantees may be interested in BondAval’s offering. We also look forward to supporting the senior leadership team in hiring in Europe and the US, helping bring their bold vision and strategy to life.
What our fund managers say
“BondAval aims to bring to the B2B insurance market the same seamless digital user experience that people expect from their consumer products. Through our investment in BoughtByMany, we’ve witnessed first-hand how a best-in-class user experience can create strong customer love, more efficient transacting, and a significant financial return.””
– Tosin Agbabiaka – Principal
Who are we backing?
Thomas Powell, Co-founder and CEO – Thomas was the former Principal and Head of Investor Relations at Passion Capital, an Insurtech Board Member for HM Treasury Fintech Delivery Panel. He also Captained the England International Rugby 7s team.
Sam Damoussi, Co-founder and COO – Sam is the former International Head of Revenue at South British Capital and former Regional Director of France at CBL Insurance Limited.
See more on BondAval’s website here.