CashSentinel closes a round of seed funding with BAS, GoBeyond and selected angel investors, while crossing the milestone of 1 million CHF processed through its service.
CashSentinel is a Swiss Fintech that developed an innovative financial service to facilitate and secure financial transactions, currently dedicated to the commerce of vehicles. The service is offered on the marketplace AutoScout24 since January 2015.
“Thanks to our partnership with AutoScout24, we’re seeing a steady increase of transactions through our service. We’re delighted to notice that our client satisfaction ratings are consistently very high, often to the point that they would not consider any other alternative after having experienced CashSentinel” says Sylvain Bertolus, CEO of the company. “Today we’re very pleased to announce having crossed the CHF 1 million processed milestone, which illustrates the quality of our service and its growing acceptance. And yet this is only really the beginning, as the market holds massive potential for growth since more than 500’000 vehicles change hands every year, in Switzerland alone.”
Go Beyond Investing's CEO, Brigitte Baumann, stated that Go Beyond provided seed capital because, “we saw an investment in CashSentinel as being in line with our investors’ interest in FinTech and were impressed with the value of CashSentinel’s concept. Its present partnerships as well as those in the pipeline are first class, and offer tremendous potential for growth.”
BAS, the association Business Angels Switzerland also supported this innovative FinTech because of its realistic business plan and its very focused strategy, contrasting with the lack of differentiation of many initiatives in the payment world today.
Mr Olivier L. used CashSentinel in May to purchase an Audi A5, found on AutoScout24. CashSentinel marked the occasion with a gift of appreciation to Mr L., whose transaction took CashSentinel over the 1 million CHF milestone. “Easy, fast and secure. CashSentinel really solved the issue we were experiencing in synchronizing the payment and delivery of the car with my seller”, says the client.
Martial Mathieu, Head of Marketing at CashSentinel, adds “Our growing success in Switzerland is cornerstone to our European development: Customers from France, UK and other European countries have an even higher need for safe payments than Swiss clients.”
Picture: Sylvain Bertolus, CEO CashSentinel (left), and Olivier L., CashSentinel client from Bern.
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