# Obligate

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/obligate

- Industry: Financial Services
- Headquarters: Zurich, Switzerland
- Website: www.obligate.com/
- Total disclosed funding: $8.7M
- Latest round: Seed (Jan 19, 2023)
- Investors on record: 4

## About

Founded in 2019 and based in Zurich, Switzerland, Obligate develops and manages on-chain debt securities through its innovative smart contract infrastructure. The company focuses on regulated financial products that streamline access to global investor capital. Obligate specializes in the issuance and management of on-chain debt securities, leveraging its advanced smart contract and legal-tech infrastructure. The company’s main offerings include regulated on-chain securities known as eNotes, which operate as ledger-based bonds compliant with the Swiss Code of Obligations. These eNotes provide a mechanism for raising debt capital from a global pool of investors, addressing specific use cases such as trade finance through partnerships with platforms like TradeFlow and OpenTrade. Obligate’s solutions are designed for qualified investors and professional clients, enabling seamless participation after a KYC process. The company aims to serve markets across Europe and other jurisdictions that seek to integrate digital assets and blockchain technology into traditional finance.Obligate generates revenue primarily through the issuance and distribution of on-chain debt products and structured investment offerings. By providing a Capital Markets-as-a-Service (CMaaS) framework, the company facilitates transactions between professional users and distribution partners, thereby enhancing operational efficiency in private market deals. For instance, when a client partners with Obligate to issue eNotes, they leverage the streamlined issuance process, which minimizes intermediary costs and accelerates time to market. The financial transactions typically involve fees associated with the issuance of securities, including potential revenue from partnerships for customized structured products. Obligate’s infrastructure enables a diverse range of revenue streams, aligning with institutional partners looking to expand their offerings in the digital asset space. In October 2025, Obligate raised 3 million in venture funding led by new investor Exponential Science. Individual and other unspecified investors also participated in the round.

## Funding rounds

- Seed, Jan 19, 2023, $4M — EarlyBird Capital, Blockchange Ventures, SIX Fintech Ventures, Circle Ventures
- Seed, May 30, 2021, $4.7M — EarlyBird Capital, SIX Fintech Ventures

## Investors

- EarlyBird Capital — Seed
- SIX Fintech Ventures (https://capitalatlas.ai/funds/six-fintech-ventures) — Seed
- Blockchange Ventures (https://capitalatlas.ai/funds/blockchange-ventures) — Seed
- Circle Ventures — Seed