SEBA Bank secures 110 million Swiss francs

13 January 2022 09:23

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Zug - The cryptocurrency bank SEBA from the Greater Zurich Area has secured 110 million Swiss francs provided by investors from different parts of the world. The company hopes to use the fresh funds to drive international growth, focusing on Hong Kong, Singapore, and the Middle East, among other regions.

SEBA Bank has secured 110 million Swiss francs in a series C funding round, which was led by a consortium of specialized blockchain and fintech investors. These included Altive from Hong Kong, Ordway Selections from Zug, and the international venture capital firm Summer Capital, and DeFi Technologies, which is listed on the Canadian NEO Exchange. The round was significantly oversubscribed according to a press release, and demand far exceeded the original funding goal.

SEBA Bank was established in 2018 and obtained a banking license from the Swiss Financial Market Supervisory Authority (FINMA) in 2019. It provides both traditional and digital financial products and banking services.

The Zug-based bank plans to use the fresh funds to drive forward international growth, among other things. It already operates in more than 25 markets across the globe. It boosted growth in Asia at the start of January by naming a CEO for the region. Above all, the aim is to expand business into Hong Kong and Singapore. The bank also has other plans for growth, such as in the Middle East, including an office in Abu Dhabi.

Guido Bühler, CEO of SEBA Bank, describes the funding round as a “significant milestone” in the press release, adding: “[it] is a testament to our foundations, and confirms our vision of being a global leader in new generation finance, enabled by blockchain technology and our comprehensive banking license.”

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