Crypto-fueled LinkedIn rival Bondex says it's raised over $10 million

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The Block2024/06/19 14:04

By:The Block

Quick Take Bondex, which bills itself as a web3 alternative to LinkedIn and rewards users with crypto, said it has raised over $10 million. Investors include Animoca Brands, Morningstar, Dext Force Ventures and iAngels.

Branding itself as a would-be web3 rival to LinkedIn, Bondex announced it has raised more than $10 million.

The company said that the capital comes from "over $4 million in funding led by Animoca Brands, Morningstar, Dext Force Ventures, iAngels, and more" in addition to over $6.5 million from a "community sale on CoinList in March 2024," according to a statement.

Bondex aims to be a gamified version of the professional social networking LinkedIn, a platform best known for providing a digital space where job candidates, recruiters and companies connect. The Bondex platform is "powered" by its BDXN token, the company said.

"The app provides referral bounties to users on the platform, allowing them to act as extended recruitment arms to hiring companies," the company said in a statement. "Referrers on the Bondex platform receive U.S. dollar or token-gated referral bounties of up to $10,000 for successful hires by recruiters."

Bondex CEO and founder Ignacio Palomera said the majority of the capital it has raised will be used to improve the platform with the aim of taking on "legacy" professional networking sites.

Binance, Blockchain.com, Chainlink, CoinMarketCap and Ankr have all been onboarded as recruiting partners, said Bondex.

"Bondex is changing the game for future recruitment through Web3," Animoca Brands co-founder and Executive Chairman Yat Siu said in the statement.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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