Wearonize receives 1.6 million euros in additional capital

12 January 2022 13:41

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Lucerne Business

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Lucerne - The Lucerne-based startup Wearonize has generated 1.6 million euros in additional capital through crowdfunding. Commercial and private investors as well as business angels took part in the investment round. The funds are to be invested in further developing the mobile payment solutions of banks and producers.

Wearonize, which has its headquarters in Lucerne, has 1.6 million euros more capital available as a result of a crowdfunding campaign launched in September 2021. According to a press release published on LinkedIn by the developer of mobile payment solutions for banks and manufacturers established in August 2020, the funds were collected using the equity platform Companisto.

Through the equity crowd-investing funding model, which ensures financial compensation for investors, commercial and private investors as well as business angels were gained as capital providers. The total of generated investments was almost twice as high as the original target of 850,000 euros. Additional success factors named in the press release are the partnerships with Curve Ltd (USA) and BrilliantTS (South Korea) concluded in Fall 2021. 

Wearonize creates technological solutions for devices that are worn on the body or the head. Customers are able to use payment cards on their device via a digital wallet to manage their expenditure or for shopping.

In addition to the monetary aspect, Thorsten Röske, Co-Founder and CEO of Wearonize AG, sees increased market acceptance of the future-oriented technology with this. He states in the press release: “As a B2B partner that supports banks and manufacturers in offering payment wearables to their consumers, we see the number of convinced investors as further proof of our business idea.” According to its own information, Wearonize has Europe’s largest network of banks and would like to address producers and banks in particular.

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Swiss Pavilion Digital