Crypto Finance AG raises CHF 16m

19.12.2017 09:00

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Zug based Crypto Finance AG announced that it has closed a CHF 16m financing round with Swiss investors and entrepreneurs, among them Rainer-Marc Frey and Philipp Cottier. The additional capital will be used as regulatory capital to apply for a Swiss banking license.

Crypto Finance AG is an a Blockchain asset investment company dedicated to providing investors safe and familiar access to the rapidly growing cryptocurrency market by offering blockchain-related services through its three divisions Crypto Fund, Crypto Broker and Crypto Storage.

Today, the startup has raised CHF 16m in financing round with Swiss investors and entrepreneurs, among them Rainer-Marc Frey and Philipp Cottier. Cottier joined Crypto Finance as Board member in November. The funds will facilitate the process of applying for a banking license with the Swiss financial authority FINMA. "The process will take some time but it is of critical importance to prepare this step early on, to be strategically positioned to offer a full range of financial services to crypto investors”, states Jan Brzezek, the CEO of Crypto Finance AG.

“This financing round further strengthens our excellent network of finance professionals, investors and entrepreneurs” says Tobias Reichmuth, the Chairman of the Board at Crypto Finance AG. “With this additional capital, Crypto Finance AG is now geared towards bringing much-needed professionalism to the crypto and blockchain market,” adds Philipp Cottier. “The company has outstanding growth potential.”

Crypto Finance AG was founded in summer 2017 and currently employs 26 professionals. Its trading-desk, Crypto Broker AG, is already cash-flow positive. Its first two funds plan to launch early January offshore, and in 1Q/2018, pending FINMA approval, in Switzerland. The institutional crypto storage solution, which offers an unprecedented security, will be launched in April 2018.

Picture: BenjaminNelan/Pixabay

(Press release/ran)

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