Seba, a Swiss crypto-focused banking startup, is looking to raise CNF 100 million (around $96.5 million) in a second-stage fundraising round.
Reported by FNLondon, the bank will attempt to garner the funds from new investors, which includes financial institutions, family offices, and affluent individuals.
This move came within six months of the bank gaining a banking license from the Swiss Financial Market Supervisory Authority (FINMA), becoming one of the first licensed crypto-focused banks along with Sygnum.
The bank is already well strapped, as Guido Bühler, chief executive of the Swiss bank, earlier revealed that they have already raised CHF 100 million in the first 18 months of its setup.
“We are proud to have founded a bank within 18 months, raised CHF 100 million in capital from investors and obtained a banking and securities dealer license from FINMA,” Bühler said in a statement.
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Bringing banking to the crypto industry
As Finance Magnates reported earlier, the banking startup has already started to offer its services to its targeted client base, which includes crypto businesses.
The bank is providing corporate accounts to crypto companies necessary for their operations with plans to offer services to tokenize investment products, real assets, and rights.
Seba is also offering banking services to banks, asset managers, pension funds, companies, and professional private investors.
Though initially, the startup limited its services only to Swiss clients, last month, it expanded its reach internationally and started to accept clients from nine additional jurisdictions – Singapore, Hong Kong, U.K., Italy, Germany, France, Austria, Portugal, and the Netherlands.
Meanwhile, to support its investment products, the bank also launched an index for digital assets.
SEBA also provides a wallet and e-banking platform which allows its clients to store five different digital currencies – Bitcoin, Ether, Stellar Lumens, Litecoin, and Ether Classic.