Toronto-based Overbond, a platform for digital bond issuance, was one of the latest pitches on The Disruptors.
Overbond is a digital platform that aims to make primary bond issuance easier by connecting bond market participants; specifically, it connects corporate and government issuers with dealers and investors.
“Overbond…connects issuers and allows them to price discover and gain a real insight of marketplace demand for their credit and their new bonds,” said Vuk Magdelinic, the CEO of Overbond. “On the other hand, it provides investors with a digital outlet to participate in primary issues and give a community that can service a large amount of clients and effectively do more with less.”
Earlier this year, Overbond raised $7.5 million in a seed round form Morrison Financial Services. Last month, the startup also announced a partnership with Thomson Reuters that will integrate Reuters’ income market data and analytics within the Overbond platform.
Co-host Amber Kanwar said that the fixed income market is tough to work around and archaic in its practices, as there are nearly 500 people involved and nearly 3,000 phone calls that are made to try and sell bonds. She says that a platform like Overbond would be useful in making communication within such a market easier.
“This is ultimately where I think FinTech can really shine,” said Kanwar. “Find an area of the financial market that is really archaic and could benefit from more connectedness, and that’s exactly what Overbond has done.”
Watch the full pitch below:
BetaKit is a production partner on The Disruptors. Tune in to BNN every Thursday night at 7pm for full episodes!
