Five million francs raised by neon

Following a successful appearance on “Die Höhle der Löwen” (Switzerland’s Dragons’ Den), neon has raised a further 5 million francs from a broad investor base in a financing round, the Zurich fintech revealed in a press release. The greatest share of new capital was injected by the lead investor Tamedia and also the Zurich-based venture capital firm Backbone Ventures. These funds will be used by neon to further develop its affordable smartphone banking solution. The Zurich fintech has developed an app that allows users to conveniently manage their bank account online and it comes with a Mastercard.

In the press release, Samuel Hügli, CTO and Head of Digital Ventures at Tamedia, comments that “neon is a simple and mobile banking solution that, even though very easy to use, offers a high level of security”. Beyond the financial backing, the media group will support neon with its expertise in developing and marketing digital platforms. Miklos Stanek, Founding Partner and Chairman of Zurich venture capital firm Backbone Ventures firmly believes “that neon will visibly change Swiss customers’ banking behavior within the next two to three years”.