Plug and Play invests in nobank app

The start-up accelerator Plug and Play based in Silicon Valley in California has invested in the app nobank. No details have been disclosed regarding the financial value of the investment. The Zug-based company behind the app, NBK Labs, was founded at the beginning of the year by two former Avaloq developers. The nobank app has been nominated for the Best of Swiss App Award 2022.

The app aims to lower the financial, technical and knowledge barriers to getting started and interacting with Web3, while also maintaining the principle of ownership in digital asset transactions at the same time. In turn, this would open up crypto investments, NFT art, gaming and other applications to new user groups, further details of which can be found in an article published by startupticker.ch. 

“Financial and knowledge-based obstacles shouldn’t hinder the masses from participating, which is why it’s exciting to partner with start-ups like nobank who have the solutions”, comments Saeed Amidi, CEO and founder of Plug and Play, in the press release.

According to Andras Hejj, CEO of NBK Labs, however, this partnership is not solely based on the entrepreneurial opportunities open to the start-up. An initial meeting at the end of March 2022 in Zurich led to an inspiring discussion and was “very important for the decision. We felt that our vision was understood and shared”, Hejj explains.