Bitcoin Suisse Finishes Series A Financing Raising $48M

UTC by Teuta Franjkovic · 3 min read
Bitcoin Suisse Finishes Series A Financing Raising $48M
Photo: Bitcoin Suisse

Bitcoin Suisse has raised more than CHF 45 million ($48 million) in its first-ever funding round. The Series A was for 16.4% of total equity and completed in four months.

Swiss crypto-financial services pioneer Bitcoin Suisse announced it has successfully managed to finish its first-ever financing round of CHF 45 million ($48 million). According to the statement, the company managed to considerably widen its shareholder base with the main investor Roger Studer as well as a significant number of private investors, strategic business partners and clients.

The capital rise completes a hard business performance in the first half of 2020, which can commend with very immense ranges of client activity. Distinguished leaders, Giles Keating and Roger Studer, were selected as new members of the Board of Directors. Going on backed up by strong approval from institutional investors, Bitcoin Suisse is now ready to commence on its next growth phase as the market leader in crypto-financial services both in Switzerland and the world.

Series A Financing Round as Milestone in Bitcoin Suisse’s History

With the profitably completed Series A financing round, Bitcoin Suisse went on strengthening its capital base, with 2019 pro forma equity now amounting at approximately CHF 100 million. The financing round consisted of 16.4% of shares of BTCS Holding AG, consisting of including 6.4% treasury shares and 10% newly issued shares. The authorized capital for the 100% subscribed 10% capital increase was made at the outstanding general aggregation on June 30, 2020. Based on the terms of the financing, right now the valuation of Bitcoin Suisse stands at CHF 302.5 million.

Chairman and Founder of Bitcoin Suisse Niklas Nikolajsen said:

“The strength of our business model, experience, and the attractiveness of our strategy and business plan has now been validated by the market and by the investors. We greatly value the trust placed in us by our new – and current investors, the majority of whom are longstanding partners and clients of Bitcoin Suisse.”

Vayloyan also added that the strength of the company’s business model has allowed them to finance its ambitious growth strategy with our own revenues and cash flow.

Bitcoin Suisse also presented the new member it added to its management team. Markus Perdrizat, formerly responsible for the blockchain risk assurance practice at PwC Switzerland, is taking over as Head Custody at Bitcoin Suisse AG and CEO of Swiss Crypto Vault AG, effective mid-August. His predecessor Philipp Vonmoos will remain on the Board of Directors of Swiss Crypto Vault AG as he moves into a new role as Head Corporate Development & Strategy and member of the management team for Bitcoin Suisse Group.

Other business news from the investing sector can be found here.

Bitcoin News, Business News, Cryptocurrency News, Investors News, News
Related Articles