Israel-based BondIT has secured a $14.25m investment from Chinese investor firm Fosun Group.
This investment, which is Fosun first FinTech investment into an Israeli company, will see Fosun become a major shareholder into the company, including representation in the board of directors.
BondIT offers a fixed portfolio to income traders and their portfolios. Through its technology and market network, BondIT can enable investment managers to create and optimise bond portfolios with machine learning algorithm-powered automation tools.
Utilising data science and AI learning, the company is able to remove complexities and inefficiencies experienced with fixed income products. The platform gives investors the ability to quantitatively optimise the risks and returns of the portfolios.
The investment and partnership will see BondIT able to increase its global expansion plans, with a focus on the US. Alongside this, the partnership will help to bring AI-powered solutions to China fixed income market.
BondIT founder and CEO Etai Ravid 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.p>
Last month fellow Israel-based company Intelligo secured a $5.7m investment led by Governing Dynamics and Bridgewater Associates co-CEO Eileen Murray. Also during the month Israel-based PayKey also bagged an investment round, with MizMaa suppliying the lead role in its $10m Series B.
Investments into Israel FinTech companies saw a rise in funding during the Q1 2017, following the three-quarter fall. Funding levels in the country reached $52m over 7 deals in Q1 2017, which was more than double of the funding in the previous quarter.
Funding levels have dropped significantly over the year, after the opening quarter of 2016 seeing $205m invested across 15 deals.
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