SEBA Bank raises CHF110mn led by blockchain and fintech investors

Zug-based SEBA Bank announced that it has secured a successful Series C funding round, raising CHF110 million ($119.6mn). The round was co-led raised led by a consortium of specialized blockchain and fintech investors, including Altive, Ordway Selections, and Summer Capital, as well as DeFi Technologies. Alameda Research, a global cryptocurrency quantitative trading firm and liquidity provider, as well as core partner of FTX, also participated in the round. Some existing investors, including Julius Baer, increased their investment.

The funding is expected to be used for expansion in Asia-Pacific and the Middle East. SEBA Bank is currently supporting over 25 markets globally, having strengthened its presence in APAC earlier this year in Hong Kong and Singapore; along with other priority markets in the Middle East including Abu Dhabi.

Guido Buehler, CEO at SEBA Bank, said in a statement: “This funding will allow us to further develop our digital asset banking platform and strengthen our presence in markets across the globe by attracting new talent.”

SEBA Bank is a FINMA (Swiss Financial Market Supervisory Authority) licensed digital assets banking platform. Altive is an alternative asset management company for technology, consumer and healthcare sectors, and part of an Asia-based private investment group; Ordway Selections GmbH, the private investment firm is a family office in Zug which deploys capital into blockchain and digital assets, health and wellness, and food and agricultural technology; Summer Capital is a multi-strategy investment management company focused on fintech, healthcare, and technology; and DeFi Technologies, is a NEO-exchange listed blockchain investment company for traditional investors specializing in decentralized finance.

Cheney Cheng, managing partner of Altive, said in a statement: “Given the global regulatory trend of digital assets, we envision that regulated crypto financial institutions like Swiss licensed SEBA Bank would become the cornerstone of the future finance.”

Source

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