Bondaval

THE SMARTEST WAY TO COVER CREDIT RISK

Credit managers seeking to cover their exposure to their buyers have so far been stuck with a small range of analogue, imperfect tools. Bondaval‘s technology-enabled insurance products are able to replace any of these tools in one place, while offering more complete, flexible cover, all delivered through the Bondaval platform.

Powered by Bondaval proprietary data engine, risks can be underwritten at scale, while feeding insights back to both insurers and credit managers.

Insurtech Gateway led their $1.64m Pre-Seed round in January 2021, following on when they raised a $7m Seed round in October 2021 and $15m Series A in December 2022.

PROBLEM

Securing credit risk either involves significant balance sheet impact for the counterparties being covered, or uncertainty on the part of the beneficiary seeking cover. Existing solutions from banks and traditional credit insurers are often slow, opaque, and cover can be cancelled with little warning.

SOLUTION

Bondaval’s range of products combine more complete, A-rated cover with a powerful technology platform to give credit managers more transparency and control over the risk they are covering, while releasing the constraints on counterparties posting security.

BONDAVAL FOUNDERS

Tom Powell (CEO) – 5 years experience with surety-related products. 2 years working in an early-stage tech venture. 1 year working at a Bio-Tech start-up. Prior to business, Tom was a professional sportsman and England captain in 2 Commonwealth Games and Rugby Sevens World Cup.

Sam Damoussi (COO) – 10 years experience as a surety and growth specialist in insurance-backed bonds. Established and launched two prior A-rated, fuel bond programs both as MGA and insurer. Previously at an independent Lloyds broker and CNA.