SEBA Bank Plans Secondary Capital Raise To Garner Over $95 Million In Additional Funds
SEBA Bank Plans Secondary Capital Raise To Garner Over $95 Million In Additional Funds
January 18, 2020
SEBA Bank Plans Secondary Capital Raise To Garner Over $95 Million In Additional Funds
SEBA Bank Plans Secondary Capital Raise To Garner Over $95 Million In Additional Funds
January 18, 2020

SEBA Bank AG, a Swiss-based digital asset bank, looks to attempt a secondary capital raise to garner over $95 million in additional funds.

On January 17, it has been reported by Financial News London that during the raise, SEBA aims to secure 100 million Swiss francs, equivalent to $96.5 million, “from new investors, including financial institutions, family offices, and individuals.”     

However, the bank announced its launch on November 12, 2019, after Switzerland’s Financial Market Supervisory Authority (FINMA) approved the outfit to operate in the world of securities and banking.

According to Guido Bühler, the CEO of SEBA, in a November 12 press release, SEBA raised significant capital in its first fundraising round, attracting over $103 million in U.S. dollar terms.

BĂĽhler said:

“We are proud to have founded a bank within 18 months, raised CHF [Swiss francs] 100 million in capital from investors.”

Thus, it has also been reported that SEBA’s expansion to nine additional countries includes Hong Kong, the United Kingdom, Germany, France, Portugal, Singapore, Italy, and Austria.

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Source: fnlondon.com | cointelegraph.com


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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