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BondIT Closes $14 Million in Funding

Advisory tools company BondIT landed $14 million in funding from China-based Fosun Group. The investment is a strategic one– Fosun is now a major shareholder of BondIT and has gained representation on the Israel-based company’s Board of Directors. When combined with an earlier seed round, this brings the company’s total funding to $14.3 million.

BondIT’s Chief Revenue Officer Adrian Gostick, said that the funds will have a “significant, positive impact” on the business. The company will use the investment to accelerate its expansion into the U.S., which, Gostick notes, is the world’s largest fixed income market. Gostick added, “…riding on Fosun’s global financial network, BondIT is committed to becoming a leader in the market to greatly improve the efficiency of the financial sector.”

Powered by machine learning algorithms, the company’s tools empower advisors to automate the optimization of fixed-income portfolio creation and management. Each individual investor selects 12 different constraint dimensions to personalize their portfolio. BondIT leverages these data points, combined with AI, to create algorithms that offer flexibility in optimizing risk and returns in non-linear, multi-dimensional portfolio selections.

Above: BondIT’s COO, Eran Nachshon, demos at FinovateFall 2016

Etai Ravid, Founder and Chief Executive Officer of BondIT said, “The long-term vision of BondIT is to bring significant efficiency to the global bond markets through the application of artificial intelligence and data science, and help our customers gain a competitive advantage through increased productivity and better client centricity.

Founded in 2012, BondIT’s COO Eran Nachshon debuted the technology at FinovateFall 2016 in New York. We featured the company, along with an interview with Ravid, in a blog post last year. BondIT was also highlighted in our round-up of top B2B wealth tech players.