Sygnum secures over USD 40 million in interim close of oversubscribed financing round

25.01.2024 13:56, Rita Longobardi

Swiss-based Sygnum exceeds expectations, securing more than USD 40 million in its latest funding round, the Strategic Growth Round. Originally aiming for around USD 35 million, the oversubscribed round boosts Sygnum's post-money valuation to USD 900 million. This capital injection will drive the company's expansion into new markets and enhance its range of regulated products and services, capitalizing on the thriving digital asset industry.

Global asset management group Azimut Holding is the lead investor for the round and is joined by other new and existing strategic and financial investors. This achievement comes amidst Sygnum's impressive financial and operational performance and expanded regulatory presence during challenging market conditions. The company closed in 2023 with an annualized revenue exceeding USD 100 million and achieved positive cash flow in Q4.

The Strategic Growth Round, which includes participation from new and existing strategic and financial investors, also sees Sygnum employees investing on the same terms as external investors. The company's co-founders, board members, and management team retain majority ownership. The raised capital will facilitate Sygnum's expansion into new markets and further develop its fully regulated products, including its B2B platform, which now supports the digital asset offerings of over 15 banks and financial institutions worldwide.

In April 2023, Sygnum partnered with PostFinance, one of Switzerland's largest retail banks, to provide bank-grade digital asset services to millions of Swiss customers. Additionally, in November 2023, Sygnum Singapore extended its collaboration with Bordier & Cie, a 174-year-old private bank, expanding their existing partnership initiated in Geneva in 2021.

Since its previous successful Series B fundraising, Sygnum's assets under administration have surpassed USD 4 billion, serving over 1,700 clients from 60 countries. The company's global team has grown to nearly 250 members, supporting increased client activity and operations. Beyond Switzerland and Singapore, Sygnum is licensed to operate in the UAE and Luxembourg.

Sygnum was ranked among the TOP 100 Swiss Startups from 2019 to 2023.


Sygnum's co-founders: Luka Müller, Manuel Krieger, Mathias Imbach, and Gerald Goh