Today London-based blockchain investment banking startup Nivaura announced a $20 million fundraising led by the London Stock Exchange Group. Other investors in the round include Santander InnoVentures, lawyers Linklaters and Orrick, Aegon’s Transamerica Ventures, MiddleGame Ventures, Digital Currency Group, and Spencer Lake, the former vice chairman of global banking and markets at HSBC. Lake is joining the board along with Nikhil Rathi, CEO of London Stock Exchange plc.
Nivaura’s mission is to enable digital investment banking initially targeting incumbent institutions. That involves digitizing the issuance and administration of financial instruments. The company refers to bond issuance and tokenized securities as use cases but also supports derivatives (ISDA). For incumbents, servicing smaller deal sizes is often not cost effective. Hence Nivaura is providing a self-service platform.
In some ways,
Nivaura is also a legal play, and its platform improves compliance efficiency. The company has worked closely on
projects with Allen & Overy which has had board representation since the early days. The Financial Times named Nivarau as ‘one to watch’ for Legal Technology in the 2018 Intelligent Business Awards. And Linklaters and Orrick have invested.
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