Bondaval Secures Funding Round Led by Tech Unicorn Backer, Dawn Capital

The British insurtech company, Bondaval, founded in 2020, is making waves in the industry with its latest funding round. According to Sky News, the company has secured close to £15m in funding led by Dawn Capital, a prominent venture capital firm known for backing tech unicorns like iZettle and Tink.

Bondaval, co-founded by Tom Powell and Sam Damoussi, specializes in providing protection against payment default. The new capital raised will be used to launch a reinsurance vehicle called Bondaval Re, expanding the company’s offerings beyond its current status as a managing general agent.

With operations in over 30 countries and offices in London, New York, and Dallas, Bondaval is poised for further growth and expansion. Existing investors, including Octopus Ventures, also participated in the funding round, showing confidence in the company’s future prospects.

Ewa Rose, Bondaval’s chief underwriting officer, highlighted the importance of launching Bondaval Re to support the company’s continued growth and prepare for further expansion. The new reinsurance vehicle will enable Bondaval to partner with reinsurers and insurers, opening up new opportunities for its technology in the market.

Dan Chaplin, a partner at Dawn Capital, praised Bondaval for its innovative approach to insurance products and technology platform, which enhances transparency and granularity in underwriting. He believes that Bondaval’s solutions will play a crucial role in safeguarding the fast-growing global trade economy.

Overall, Bondaval’s latest funding round and the launch of Bondaval Re signify a significant milestone for the company as it continues to make strides in the insurtech industry. Stay tuned for more updates on Bondaval’s journey and impact in the market.