London-based FinTech Origin has raised a Series A round from Deutsche Börse Group’s post-trade services provider Clearstream and the Luxembourg Stock Exchange.
The Luxembourg Stock Exchange had previously acquired an initial stake in the company in 2019.
Origin is a tech startup focused on digital bond issuance. Its products are created to automate the often time-consuming manual debt issuance process. The new cash injection will be used to fund the development of an end-to-end, open access, straight-through digital process for issuance, settlement and listing of debt instruments. This aims to further integrate Origin’s products into the existing capital markets ecosystem.
“We are very excited and proud to have the confidence of Clearstream and LuxSE in this transaction,” said Raja Palaniappan, CEO and co-founder of Origin. “This step is a fantastic validation of not just our technology, but also of the impact we have already had on the market and most importantly our customers. We look forward to working together with our new partners to make debt issuance cheaper, faster, and better for all market participants.”
Jens Hachmeister, head of issuer services and new digital markets at Clearstream, added, “The lack of automation in bond issuance takes up a tremendous amount of resources and hampers issuers’ capacities to adopt more flexible funding strategies. We have been approached by clients in this regard to support them in further streamlining their workflows. In Origin, we have found an innovative and experienced partner to do just that.”
Arnaud Delestienne, director of international capital markets at the Luxembourg Stock Exchange, commented, “We welcome Clearstream’s investment in Origin, which we see as a testament to Origin’s tremendous potential when it comes to modernising and improving the entire bond issuance process. Clearstream and LuxSE are active in the listing and settlement of international debt securities, and through this initiative, we can accelerate the digitalisation efforts in primary capital markets.”
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