Swiss fintech neon raises seven million CHF

Swiss fintech neon raises seven million CHF

News
June 3, 2021 by J.D. Smith
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Swiss fintech neon has raised seven million CHF (£5.5M) from pre-existing investors and kicked off a crowdfunding round for customers. Investors in the round include the TX Group, BackBone Ventures, QoQa Services SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank’s innovation foundation, as well as private backers. With 70,000 customers already on board, neon is
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Swiss fintech neon has raised seven million CHF (£5.5M) from pre-existing investors and kicked off a crowdfunding round for customers.

Investors in the round include the TX Group, BackBone Ventures, QoQa Services SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank’s innovation foundation, as well as private backers.

With 70,000 customers already on board, neon is launching equity crowdinvesting with tokenised non-voting shares which will be held in a personal wallet. The Swiss digital asset specialist Sygnum Bank is acting as the tokenisation partner.

Yves Collet, neon’s CFO, says: “We can sense just how committed our users are to neon, so we’ve reserved an additional 1.5 million CHF for direct investments, after the financing round.”

Neon offers basic bank accounts managed by banking partner Hypothekarbank Lenzburg, with baked-in deposit protection of up to 100,000 CHF per customer. The company recently expanded its range to include neon green, a sustainable account for the Swiss market.