Fintech start-ups to get early stage capital
Switzerland’s strengths in the finance sector, developing new technologies and innovation make the country “a natural home” for fintech start-ups, writes the Swiss ICT Investor Club (SICTIC) in a statement. And yet it is often difficult for start-ups to raise the capital needed in the early stages. This is why SICTIC decided to launch SICTIC Fintech Angels (SFA), a business angels group dedicated to fintech start-ups.
Business angels or angel investors are affluent individuals who assist start-ups in the early stages with expertise and capital. This will also be the goal of SFA as it works to boost the growth of the fintech ecosystem in Switzerland. To help accomplish this, SICTIC is adding fintech experts to its board and will work closely with affiliated organisations. The initiative is supported by the Swiss Commission for Technology and Innovation (CTI).
One of the main activities of the new group will be the SICTIC Fintech Investor Days, when Swiss fintech start-ups can pitch their business ideas in front of active business angels. The first event will be held on 14 November in Zurich.
SICTIC is a non-profit association that connects investors to seed early-stage ICT start-ups in Switzerland. Its president is Thomas Dübendorfer.