Home Cryptocurrencies & Blockchain SEBA bank secures US$ 22.5M in Series B funding

SEBA bank secures US$ 22.5M in Series B funding

SEBA bank secures US$ 22.5M in Series B funding
SEBA bank secures US$ 22.5M in Series B funding

SEBA, a Swiss cryptocurrency bank, has announced in December 2020 that it has completed its Series B funding round. This investment has brought in a massive amount of $22.5 million or 20 million CHF from investors. With the fresh capital, the Bank plans to boost and accelerate its growth strategy, strengthen its capital base and increase its lending capacity for clients and start leveraging the permanent hub in Switzerland into new markets.

The names of the investors who participated in the round have not been disclosed by the bank. According to Sandra Frank Dudler, Chief Marketing Officer (CMO) of SEBA, it is not in the policy of the bank to reveal details of investors who participated in the funding round and therefore the bank has not unveiled their names.

But the bank has revealed that said that all of its previous investors, as well as new investors, are situated across Switzerland, Asia, and Europe. Summer Capital, an investment management firm based in Hong Kong, and BlackRiver Asset Management, a global investment firm based in Switzerland are few of the existing investors of SEBA Bank. But, it cannot be confirmed that these investors have participated in this round.

Recently, it announced a partnership with technology platform Tokensoft International AG. The collaboration will see the amalgamation of TokenSoft’s tokenization platform into the bank’s asset tokenization services and enable it to offer tokenization solutions and blockchain software services in Europe and Switzerland.

What SEBA Bank has to say

Guido  Buehler, CEO of SEBA Bank, stated, “I am delighted that the strengths of SEBA Bank and its track record in 2020 were recognised by our existing key shareholders and new investors leading them to participate in a second capital raise. This support will allow us to accelerate the strong growth SEBA Bank is delivering as we also plan to expand into new markets in the Middle East and Asia and support US institutional clients.”

About SEBA Bank

SEBA Bank
SEBA Bank

The Bank provides secure custody and wallet assistance with a security solution, an integrated trading platform including spot, derivatives and credit, end-to-end tokenization platform across the entire lifecycle of digital assets and currencies along with investment products and discretionary mandates held by institutional-grade buy-side research.

The bank was founded by Sébastien Mérillat in 2018. It is headquartered in Zug, Switzerland. The company has amassed a total of US$ 126.6 million.

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