Swiss digital assets bank SEBA raises $120m in Series C funding round
SEBA Bank, a Switzerland-based digital assets banking platform, has secured a CHF 110 million ($120 million) Series C funding round.
The round was co-led by a consortium of specialised blockchain and fintech investors, comprised of Altive, Ordway Selections, and Summer Capital, as well as DeFi Technologies.
Alameda Research, a global cryptocurrency quantitative trading firm and liquidity provider, also participated in the round.
SEBA Bank says the round was “significantly oversubscribed, with demand far exceeding the initial funding target”. Existing investors, including Julius Baer, also increased their positions.
The money will be put towards international expansion, building upon its recent incursions into Hong Kong, Singapore, and the UAE.
Guido Buehler, CEO at SEBA Bank, says: “This funding represents a significant milestone for SEBA Bank, is a testament to our foundations, and confirms our vision of being a global leader in new generation finance, enabled by blockchain technology and our comprehensive banking licence.”
Founded in April 2018 and headquartered in Zug, SEBA Bank claims to be “a pioneer in the financial industry and is the only global smart bank providing a fully universal suite of regulated banking services in the emerging digital economy”.
It holds a Swiss banking and securities dealer’s licence, and a licence to act as a custodian bank for Swiss collective investment schemes pursuant to Art, known as a CISA licence. The latter was granted in September 2021 – “the first time a reputed, regulatory authority such as FINMA has granted such licence to a financial services provider with a core capability in digital assets”, the bank says.