Deal origination tool BankerBay has raised under $1 mn from executives from Nomura, Ernst & Young, Government of Singapore, Jefferies and other high net worth individuals, the company said.
BankerBay helps Private Equity firms and investment banks find prospects. It also connects companies to investors. It’s like the Angel List for larger deals.
The startup, is looking to raise an intermediary round of $3 mn soon. The company, is headquartered in Singapore and its core team is in Bangalore. Soon, it plans to incorporate in the US.
“Investment banking has typically worked on a who you know basis. The major pain point is the origination side of things. Today, while banks and financial institutions are laying off people and looking to increase efficiency, BankerBay brings a great proposition,” said Ash Narain – Founder & CEO of the startup. Romesh Jayawickrama, an investment banker and Amlan Kusum Mandal, former CTO of Asklaila are part of the founding team.
The platform tallies investment criteria of buy side firms to the deal parameters of sell side firms. Based on matches generated, investors and lenders are introduced to companies seeking capital.
“This will help us bring scale to the disorganized market,” Narain, who used to run a boutique advisory firm told NextBigWhat. The company progressively wants to get into other services such as valuations and diligence.
BankerBay has competitors like Mergermarket. Currently, the platform has over 5,000 users and 542 live transactions. It has introduced buyers and sellers to each other for transactions totalling $5.43 billion, Narain said.
We gave the site a spin and loved the easy and clean interface. It’s got a few deals listed already. We sorely miss a search box and a few filters on the site.