Obligate nets $4m for its blockchain-based regulated debt securities marketplace

Obligate nets $4m for its blockchain-based regulated debt securities marketplace

Obligate, which offers blockchain-based regulated debt securities, has reportedly raised $4m in a seed extension.

The round was backed by Blockchange Ventures and Circle Ventures, according to a report from CoinDesk. They joined existing seed investors Earlybird and SIX Fintech Ventures.

This extension brings the seed round total to $8.5m.

Based in Switzerland, Obligate offers blockchain-based bonds for regulated debt securities. It boasts a marketplace that allows investors to easily find open issuance programs and investment opportunities.

Obligate co-founder and CEO Benedikt Schuppli told CoinDesk, “Obligate combines the benefits of DeFi with the trust and regulation of TradFi.

“Obligate is more efficient than many other bond platforms as we allow a direct issuance of blockchain-based bonds from the issuer to the wallet of the investors.”

Earlier in the year, Relio raised $3.26m in funding. The company offers an automated compliance framework that helps neobanks improve their business onboarding processes. It was founded by Lav Odorovic, the founder of Penta.

Other RegTech developments in Switzerland, include the launch of new sustainable investment label rules. These new rules mean financial products and funds labelled as sustainable, green or ESG will need to disclose how they intend to achieve their sustainability.

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