The deal marks a step forward for the company as the first fintech entrant into the new bond issuance market.
Overbond says it plans to use the financing to expand its fully-digital primary bond issuance platform.
“Overbond’s experienced team is making a significant impact in institutional capital markets,” said David Morrison, president of Morrison Financial. “Our investment combined with Overbond’s vision will no doubt have a significant impact on how new bonds are issued.”
Overbond brings benefits to everyone in the primary bond market: higher transparency, better price discovery, and investor diversification. It also helps to streamline all stages of the process from bond origination through deal execution, analytics and communication.
“We look forward to the next phase of working with our clients – investment banks, corporate and government bond issuers and fixed-income investors – to help investment banking and bond issuance transition to a digital approach,” said Vuk Magdelinic, CEO of Overbond.
Overbond BPS is a cloud-based solution that streamlines dealer-issuer communication and provides advanced market analytics.