Our Story

As a start-up in the financial technology space, BondLink has come a long way in a short time. Learn about the history and origins of BondLink.

For Issuers, By Issuers

Colin MacNaught at the Brookings Municipal Finance Conference
Colin MacNaught at the Brookings Municipal Finance Conference

BondLink CEO Colin MacNaught spent seven years issuing nearly $25 billion in bonds on behalf of the Commonwealth of Massachusetts. During his tenure he was struck by the limited technological resources available to him. Investor outreach, financial disclosure and analytics were simply too time-consuming and too inefficient.

A Platform for Success

Carl Query (CTO), Paul Zeiter (CRO), and Colin MacNaught (CEO)
Carl Query (CTO), Paul Zeiter (CRO), and Colin MacNaught (CEO)

After leaving the Treasurer’s office in 2015, Colin decided to found a company that would provide issuers with the tools they need and the edge they seek. He joined up with Carl Query, a successful entrepreneur with a deep understanding of the tech startup space, Carl was the perfect complement to Colin’s municipal market acumen. BondLink was born.

Carl and a team of engineers began to build out a turnkey investor relations website to Colin’s specifications, creating the very tool he dreamed of during his years as an issuer. In January 2018, BondLink completed a Series A financing of $10 million, led by Franklin Templeton, one of the single largest holders of muni bonds.

Behind Colin and Carl’s leadership, the burgeoning business has continued to blossom, building a client list that includes the City of Chicago, the University of Texas and the State of California, some of biggest issuers of municipal bonds in the U.S.

Since 2018, BondLink clients have issued more than $115 billion in bonds, and our client investor relation sites have been visited more than 1.2 million times.

A New Model for Disclosure

Colin MacNaught meets with BondLink's design and engineering team
Colin MacNaught meets with BondLink's design and engineering team

One result of the financial crisis was market investors clamoring for better and more disclosure from municipal issuers – more like the corporate bond market. Muni disclosure tends to be varied across issuers, limited in scope and lacking in timeliness.

By engaging with investors and analysts BondLink has identified the most valuable data points the market is looking for and created a standardized, yet customizable, online platform to facilitate issuers’ communications with bondholders.

This new model represents a fundamental shift in the market, resetting the bar for municipal disclosure and simplifying credit surveillance. 


Colin MacNaught, BondLink CEO & Co-Founder

Colin MacNaught, CEO & Co-Founder

Colin has more than 15 years of experience in the municipal bond market. Prior to BondLink, Colin managed the Commonwealth of Massachusetts’ borrowing needs from 2008 to 2015, issuing close to $25 billion in bonds and notes. His work was distinguished for its innovation, lauded by groups such as the NFMA and SIFMA, and earned two national deal of the year awards from The Bond Buyer. A big focus of his time was on boosting the state’s transparency to investors. Colin studied public finance at Harvard’s Kennedy School of Government.

Carl Query, BondLink CTO & Co-Founder

Carl Query, CTO & Co-Founder

Carl is an experienced entrepreneur and proven technology leader, bringing to BondLink more than 15 years of work with internet start-ups. Prior to BondLink, Carl was the Co-Founder and CTO of FlipKey, a leading vacation rental home marketplace that was acquired by TripAdvisor. Carl previously was a founding engineer at Compete, a digital competitive intelligence business used by Fortune 500 companies and prominent internet brands. Acquired by TNS, Compete is now owned by WPP. Carl has a BS in computer science from the University of Virginia.