Swiss-Regulated Digital Asset Bank Plans $95M Capital Raise

Seba, a young Swiss-based digital asset bank holding regulatory licensing, looks to attempt a secondary capital raise to garner over $95 million in additional funds.

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,” Financial News London wrote in a Jan. 17 brief.

Recent launch

Crypto friendly startup SEBA Bank AG announced its launch on Nov. 12, 2019 after Switzerland’s Financial Market Supervisory Authority (FINMA) approved the outfit to operate in the world of securities and banking.

Seba raised significant capital in its first fundraising round, attracting over $103 million in U.S. dollar terms, according to Seba CEO Guido Bühler in a Nov. 12 press release. Bühler said:

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

Rapid expansion

Just one month after announcing its launch, Cointelegraph reported on Seba’s expansion to nine additional countries, including Hong Kong, the United Kingdom, Germany, France, Portugal, Singapore, Italy and Austria.

Cointelegraph also detailed Seba’s partnership with Hypothekarbank in February 2019.

Cointelegraph reached out to Seba for additional clarification but received no comment as of press time. This article will be updated accordingly upon receipt of a response.