BankerBay Online Investment Banking Platform Receives $2 Million in Seed Funding

BankerBay, an online investment banking platform that connects qualified and vetted corporate deals with providers of capital around the world, announced today that it has raised over $2 million in seed funding. BankerBay was originally set up in Singapore but simultaneously announced corporate headquarters will now be moved to New  York City. The company also has an office in Bangalore.

According to BankerBay, investors include David Toh, director at NTUitive, and “other senior investment bankers in corporate finance” and Scale.VC, a Silicon Valley-based venture capital firm. BankerBay stated it was is also backed by a sovereign agency but did not provide further details.

BankerBay Deals

As of today, BankerBay lists over 6900 users, 2610 live transactions and more than 4000 “introductions”.  Current transaction volume introduced is stated at over $24 billion. BankerBay seeks to disrupt the traditional investment banking space creating efficiencies engendered by allowing a portion of the process to occur online.

BankerBay was founded in 2013 and within 12 months the online platform had attracted over $15 billion of deals. According to BankerBay, currently $4 – $5 billion of deals are submitted to the site each month from around the world, of which approximately $2 billion get through the vetting and curation process. Most deals are middle market ranging from $10 to $200 million.

Romesh JayawickramaBankerBay was created based on the notion that investment banking is largely driven by making the right connections.  The platform uses technology to match parties with similar characteristics. Romesh Jayawickrama, CEO & Co-founder explained, “it is clear that the U.S. middle market is growing in volume, value and importance. Our most recent financing will help us establish ourselves firmly in this market and be better poised to enable deals and create relationships with our global base of subscribers for U.S. private equity firms and investment banks.”

BankerBuy provided several examples of deals;

  • The purchase of a mixed-use real estate development in the U.S. containing a national brand hotel by a developer focused on hospitality for $40 million
  • A food & beverage company in Western Europe looking to expand into the seafood industry requiring $50 million in funding to make several acquisitions
  • A textiles manufacturer in Turkey requiring $50 million in acquisition financing to acquire a target company

The BankerBay deal origination tool is said to incorporate algorithms that match buy side with sell side between its users.  The users remain anonymous until final introductions are made when traditional processes kick in.

 



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