Further 11 million Swiss francs raised by neon

A successful financing round has been completed by neon. The Zurich fintech startup had previously raised capital of 2.5 million francs in a financing round with institutional investors in September. On 31 October, a crowdfunding campaign was concluded, securing a further 8.6 million francs. Through this, around 5,000 users of the neon smartphone account received participation certificates, known as tokenized non-voting shares. Last year, the startup had raised an investment of 5 million francs in less than an hour.

“We value the confidence expressed by existing investors and new crowd investors in this funding round,” said CEO and co-founder Jörg Sandrock in a press release. Now, digital and affordable account management can be further improved on the neon app. This capital increase will go towards “the clear objective of becoming independent of external capital through new products and achieving profitability”.

According to neon, 130,000 customers currently have a neon account. Account management is handled by the neon partner Hypothekarbank Lenzburg, ensuring deposit protection of 100,000 francs for each account.