SwissBorg raises USD 23 million in community funding round

The Swiss crypto startup announced that it closed a Series A community funding round with USD 23 million and 16,600 investors. The startup is a Venture Leaders Fintech alum.

Since the launch of its crypto app in 2021, SwissBorg has become a major European player in crypto financing and investment, acquiring over a million users and growing to a team of over 200.

Founder and CEO Cyrus Fazel announced in a LinkedIn post that SwissBorg concluded a Series A community funding round on March 31 that attracted 16,660 investors and a total of USD 23 million (CHF 21.27 million).

"Our mission has always been to democratize wealth management and offer our users the opportunity to become shareholders and replace the traditional VC model," Fazel wrote in the post. "With this record-breaking funding round, we have taken a major step towards achieving that goal."

The equity fundraising campaign was launched at the end of last year on their Multi-Asset Launchpad, a platform that represents SwissBorg's mission to decentralize and democratize ownership and investment opportunities across asset categories.

For the fundraising, the startup implemented community-driven dynamic equity valuation, which links the company's financial valuation to the demand for its shares, with a cap of CHF 500 million at a subscription level of 100%. The current dynamic valuation is CHF 223.14 million.

SwissBorg was among the crypto startup that celebrated a successful initial coin offering (ICO) in 2017, raising CHF 52 million. In 2018, held a blockchain referendum, letting community members vote on which interface to prioritize (mobile app vs. responsive website) and demonstrating the startup's commitment to community-centered management.

Fazel was nominated for EY's Entrepreneur of the Year Award in 2022.

SwissBorg was chosen to participate in the Venture Leaders Fintech program in 2020. The startup was also the winner of the TOP 100 Swiss Startup Public Voting in the fintech vertical in 2021.


Cyrus Fazel was selected to participate in Venture Leaders Fintech 2020