# Bondaval > Digital trade credit insurance and non\-payment guarantee platform for enterprise credit managers ## At a glance | Field | Value | | --- | --- | | Category | Specialty Solutions | | Type | Solutions Provider | | Region | EMEA | | Headquarters | London, UK | | Founded | 2020 | | Stage | Growth | | Employees | 51-200 | | Funding | Series B | ## Overview Bondaval is a trade credit insurance and surety technology platform for enterprise credit managers. Operating as a managing general agent (MGA), the company combines proprietary software with A-rated insurer capacity to provide non-cancellable credit protection across more than 30 countries. It serves credit teams in high-exposure sectors including energy, commodities trading, food wholesale, and fuel distribution. The BondavalOS platform covers the full lifecycle of credit protection -- issuing, amending, renewing, and claiming on trade credit insurance policies and non-payment guarantees in real time. Core capabilities include live accounts receivable data ingestion, dynamic buyer risk monitoring, automatic breach flagging, and multi-user approval workflows. The platform connects to corporate ERP and accounts receivable systems, reducing administrative overhead for credit operations teams. Founded in 2020 and headquartered in London, Bondaval has raised USD 42.7M across five rounds, with a Series B led by Dawn Capital in 2024. Customers include BP and Highland Fuels. The company holds direct FCA authorization and operates a reinsurance vehicle (Bondaval Re) to support global capital scaling. Insurance capacity is backed by Swiss Re Corporate Solutions (S&P AA-) and Great American International Insurance (S&P A+). ## Products & services ### MasterBond \(Non\-Payment Guarantee\) A non-cancellable, non-payment guarantee instrument replacing traditional collateral such as letters of credit and bank guarantees. Provides 100% coverage against buyer insolvency or payment default, backed by Swiss Re Corporate Solutions capacity (S&P AA-). Enables sellers to release working capital previously tied up in collateral arrangements. **Key features:** - 100% non\-cancellable coverage against buyer default or insolvency - Backed by S&P AA\- rated Swiss Re Corporate Solutions capacity - Replaces traditional letters of credit and bank guarantees - Supports coinsurance structures for large\-limit exposures \(USD 5B\+ demonstrated\) *Target users:* Enterprise credit managers in energy, commodities, and fuel distribution ### Trade Credit Insurance Policy A flexible trade credit insurance product available through BondavalOS, launched in June 2024 across the UK and EU (expanded to Switzerland in March 2026). Backed by Great American International Insurance (S&P A+). Minimum premium approximately GBP 75,000 with aggregate policy limits reaching billions of pounds. Uses live accounts receivable data sharing to reduce policy administration. **Key features:** - Digital policy issuance and management via BondavalOS - Live accounts receivable data sharing reduces administrative burden - Aggregate limits reaching billions of pounds - Expanding geographic coverage \(UK, EU, Switzerland as of 2026\) *Target users:* Mid\-to\-large enterprises seeking trade credit protection ### BondavalOS Proprietary risk management platform powering the full credit protection lifecycle. Provides a digital-first, self-service interface for credit teams to manage buyer exposures, monitor portfolio risk, and execute credit protection instruments in real time. **Key features:** - Dynamic risk monitoring with filtered buyer views - Centralized buyer profile management with automatic breach flagging - Accounts receivable ingestion and real\-time tracking - Multi\-user approval workflows for limit adjustments - Portfolio section with saved filters for ongoing monitoring - ERP and accounts receivable system integrations *Target users:* Enterprise credit operations teams, credit managers, treasury departments ### Bondaval Re A reinsurance vehicle launched May 2024 enabling direct partnerships with reinsurers and insurers. Designed to move Bondaval beyond its MGA role and provide a scalable capital structure to support expansion into new markets and geographies. **Key features:** - Enables direct reinsurer and insurer partnerships - Supports global capital scaling beyond MGA structure - Underpins geographic expansion strategy *Target users:* Reinsurers, capital markets partners ## Category & focus - Subcategories: Trade Credit Insurance, Non\-Payment Guarantees, Surety, MGA Platform - Insurance verticals: Specialty/E&S, P&C Commercial - Target customers: Carriers, MGAs/MGUs ## Notable customers - BP \(FTSE 10\) \-\- exclusive multi\-buyer portfolio arrangement announced May 2022 - Highland Fuels \-\- multi\-year deal announced May 2022 - Global oil major \-\- limit\-by\-limit coverage design \(case study\) - FTSE 50 company \-\- broad multi\-buyer portfolio coverage \(case study\) - European forecourt operator \-\- working capital release via guarantees \(case study\) - International commodities trader \-\- coinsurance structure, USD 5B\+ limits \(case study\) - Mid\-sized food wholesaler \-\- competitive terms, policy management \(case study\) ## Links - Website: - Directory profile: - Blog: - Careers: - Linkedin: --- *Last updated: 2026\-06\-13*