Digital Debt Capital Markets (DDCM), which aims to digitise the end-to-end life cycle of a bond, has scored £2.5m in funding from a group of individuals and family offices.
The company’s technology will enhance, upgrade and improve communication and processes from a bond’s issuance to repayment at its term.
Issuers, arrangers and service providers can use the technology to improve experiences across the process from the pre-mandate stage, through execution, pricing and primary settlement, and through the secondary life of the security until redemption.
With the capital from the round, the FinTech is looking to bolster its technology and hire additional staff.
DDCM CEO Charlie Berman said, “DDCM is delighted to have closed its initial seed funding, drawing equity capital from a small group of the highest quality, well informed, independent and relevant individuals and family offices.
“It allows us to further develop our unique technology to improve the functioning of the bond markets for the benefit of major issuers and all the participants involved in origination, underwriting, distribution & trading and all pre and post trade service providers.”
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