Bitcoin Suisse, a crypto financial services company based in Switzerland, recently raised CHF 45 million ($48.6 million) in its first-ever external financing round. With the funding, the company is now valued at CHF 302.5 million ($327 million).
Furthermore, the total equity capital of Bitcoin Suisse is now CHF 100 million which equals $108 million. The CEO of the crypto firm, Arthur Vayloyan, said the Series A round has made way for the acceleration of the company’s business volume.
“The proceeds from the capital increase will be used to scale our platforms and products, launch a new suite of crypto-financial and digital asset services, and seize opportunities to expand our international regulated footprint.”
The company made the successful financing round with Roger Studer, former head of Vontobel Investment Banking, as the main investor. Along with Struder, Giles Keating, a former banker at Credit Suisse, has also been appointed as a member of the board. Other participants include private investors, strategic business partners and clients.
Bitcoin Suisse has future plans that will aid the next phase of the company’s growth. The crypto financial services company plans to evolve into a “unicorn” – which is a $1 billion valuation – by 2025. Since 2019, the company has been undergoing a licensing process. Upon its success, crypto is planning to become a bank in Switzerland.
Image Credits: Pixabay
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