Bond, a U.S.-based fintech startup, recently announced it secured $32 million through its Series A funding round, which was led by Coatue with new investors Goldman Sachs, Mastercard and B Capital. Founded in 2019, Bond states it is giving brands and banks the ability to work together safely at scale, so they can serve their customers like never before.
“There was a time when our banking relationships were highly personal; we visited a local branch and we were greeted by name. Over time, those relationships have been replaced by ATM machines. We believe the proliferation of technology brings with it the opportunity to revive the power of personalization in banking. Today, brands know their customers better than ever before, while banks know the regulatory requirements to make safe and scalable products.”
Roy Ng, CEO and Co-Founder of Bond, explained the company’s vision is to reshape fintech and deliver the infrastructure that banks and brands need to innovate with speed, safety, and scale.
“When we launched, we knew we’d be supporting a new era for fintech, but we didn’t expect to build our team and our platform while sheltering in place [during COVID-19 pandemic].”
Chairman and CEO of Morgan Stanley, John Mack, also joins existing angel investors of Bond. Other investors include Sarah Friar, Steve Frieberg, Ryan Peterson, and Eric Yuan. Ng went on to add:
“Our banking system serves as a source of stability in these moments of crisis, yet the system is being tested. How do banks manage increasing credit losses, navigate through near-zero interest rates and a flattened yield curve, all while continuing to find ways to better support their customers where their services are most needed? Partnering with brands is a route for many banks. With Bond, sponsor banks can easily find, onboard and scale new brand partners.”