ValuBond, the Atlanta-based provider of online fixed income solutions for the retail investor, has closed a $15 million Series B strategic investment round, led by LabMorgan, the e-finance unit of JP Morgan Chase, Zions Bancorporation and Wasatch Venture Fund. Series A investors Financial Technology Ventures and Alliance Technology Ventures also contributed to the investment round.
ValuBond provides broker/dealers with a fixed income solution for their advisors and retail clients, which includes secondary trading, new issues, news, commentary and tools. The company claims it is the only independent provider of a "private-label" solution enabling financial services firms to offer fixed income investing to their advisors and retail clients.
Russ Mannis and Peter Hill, co-heads of JP Morgan Chase's municipal finance business, say the ValuBond service enables the company to meet the full and growing spectrum of the individual investors' needs: "Through this platform we hope to reach an extensive audience of retail investors throughout the United States."