Sygnum secures strategic investment to accelerate next growth phase

19.02.2021 12:30, Isabelle Mitchell

Sygnum, the world’s first digital asset bank, secured an eight-figure USD investment from SBI Digital Asset Holdings, the digital asset umbrella company of SBI Group, as the lead investor of its strategic investment fundraising round. Marking a strong start to 2021, this further strengthens Sygnum’s and SBI’s strategic partnership that was established in October 2020 with a planned SBI-Sygnum Digital Asset Opportunity fund, which targets early-stage investments in digital assets startups. Sygnum was one of the TOP 100 Swiss Startups in 2019 and 2020.

With the completion of this fundraising round, Zurich-based Sygnum will have raised around USD 30 million in the past six months, with its operations remaining well-capitalized. Combined with the recent tokenization of its own shares, which laid the foundations for a potential future public offering, as well as a cost-efficient approach to bringing its digital asset banking platform to market, Sygnum stands ready to accelerate its business into its next growth phase.
 
Proceeds from this fundraising round will be used to continue the strong progress made last year to grow Sygnum’s assets under administration, which stood at over half a billion USD as of January 2021. This includes expanding its client base of private qualified and institutional investors, banks, and other financial institutions. The proceeds will also drive Sygnum’s expansion into new markets in Europe and Asia from its Switzerland and Singapore headquarters, as well as accelerate the launch of new products and services.
“We are very pleased to welcome SBI Group as a trusted Sygnum shareholder and strategic partner,” said Mathias Imbach, Sygnum co-founder and Group CEO. “2020 saw digital assets receive a global surge in interest from institutional investors and financial institutions. Together with SBI’s deep and longstanding expertise in fintech and digital assets, we look forward to meeting the rising demand coming from Switzerland, Singapore, and globally and providing our clients with unique investment opportunities, empowering them to diversify into the emerging digital assets economy with complete trust,” he added.

Sygnum was one of the TOP 100 Swiss Startups in 2019 and 2020.


Source: press release
Photo: Sygnum website