Deal origination platform for FIs BankerBay raises $2 mn in third funding round

Bangalore- and Singapore-based BankerBay Technologies Pte Ltd, which helps private equity and venture capital firms, hedge funds, banks and investment banks locate deal flow and capital, has raised $2 million in funding from a group of unnamed investors.

The funding will be used for global expansion and building sales, marketing and business development teams in London and New York, it said in a statement.

"Leveraging technology is important to help foster investment in the fragmented middle market as the entire traditional investment banking industry continues to face pressure, cutbacks and big reductions in budget," said Romesh Jayawickrama, founder and CEO of BankerBay.

BankerBay was founded in 2012 by Ash Narain and Jayawickrama. Narain holds an LLB from Symbiosis Law School (Pune) while Jayawickrama is an investment banker with over 18 years of experience. Jayawickrama had previously built Amura, an independent corporate finance and consulting firm, specialising in PE, M&A and corporate finance advisory.

BankerBay is used by financial institutions across North America, Western Europe, APAC, Latam and MENA. The company's primary focus is the global mid-market segment that involves deals and investment opportunities ranging from $10 million to $250 million in transaction value.

It claims to have over 3,000 live deals currently. It also claims to have introduced deals worth over $53 billion in private equity funding, project finance and mergers and acquisitions and real estate transactions.

In early 2016, the company launched a dedicated platform to facilitate real estate transactions ranging from mixed developments, hospitality and commercial.

In 2014, BankerBay had secured under $1 million in an angel round of funding from a group of investors in Asia and Europe.

Last year, it had closed a $2 million seed funding round from a group of unnamed investors.

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