Neon raises new capital to fund further growth

Zurich-based fintech company neon has raised a further 5 million Swiss francs in a new financing round. According to a press release, existing investors include Backbone Ventures, TX Group (formerly Tamedia), the Innovation Foundation of the Schwyzer Kantonalbank, as well as new investors Helvetia Venture Fund and the Lausanne-based e-commerce specialist QoQa Services.

Bettina Hein and Roland Brack, two jurors from Die Höhle der Löwen, the Swiss version of Dragon’s Den, once again invested in neon. The initially invested in the Swiss fintech in March 2019, just three months after the company was founded, when the four entrepreneurs behind the free mobile neon account appeared on Die Höhle der Löwen. Immediately afterwards, two more jurors from the show invested in the company.

“This financing round confirms our path and our goal,” said neon CEO Jörg Sandrock. “Existing and new investors are convinced of our potential. This naturally fills us with pride. It is also a great incentive to continue to work hard on our development in order to continue our growth and transform the market.”

Samuel Hügli, Head of Technology Services & Ventures at TX Group, is “impressed by how neon is shaking up the Swiss market with its simple but secure mobile banking solution”. 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”.