PXL Vision closes a seven-figure round

PXL Vision developed Daego, a technology that enables seamless online verification of users’ identity to help companies fasten the process of onboarding customers, thanks to the automatic creation and administration of secure digital identities. Besides helping companies to eradicate the tedious process requiring physical verification, the solution contributes to cost reduction and improved customer experience.

Following the recent completion of the F10 P2 program, the startup has closed its seven-figure pre-seed round with SIX FinTech Ventures as the lead investor, resulting in the acquisition of stake in PXL Vision to strengthen its position in innovative sectors of the financial industry by adding another key element of digitization to its portfolio, which will be particularly relevant to the Swiss financial center.

“Together with PXL Vision, we can now not only support an already experienced start-up team but also a technology that harbours huge potential and that encapsulates our vision of a digitized financial centre,” explains Andreas Iten, Head SIX FinTech Ventures. “The acceptance of digitized business models and solutions is crucial for Switzerland as a financial centre. PXL Vision AG’s Daego plays a key part in further increasing this acceptance.”

Zürcher Kantonalbank (ZKB) and a private business angel also participated in the pre-seed round.

In addition to the investment, PXL Vision has also won new clients as part of its strategy to conquer the Swiss market. The startup has added the telecommunications company QuickLine to its customer base. To-date companies including SwissSign which uses Daego for user verification as part of the SwissID, SBB, Sunrise, insurance company Basler, Swisscom Blockchain have also adapted the solution.

(Press release/RAN)