Swiss fintech neon has raised CHF5m ($5.05m) in Series A financing round to expand its product portfolio.
The round was led by Tamedia and also joined by Backbone Ventures and some existing investors of the company.
neon, as a smartphone banking solution, said that it will use the liquidity to add new features to its app.
The fintech firm aims to expedite card transactions, roll out e bill option and introduce additional self-servicing options to the platform.
Tamedia CTO and head of Digital Ventures Samuel Hügli said: “neon is a simple and mobile banking solution that, even though very easy to use, offers a high level of security.
“We’re continuing to support neon not only financially, but also through our expertise in developing and marketing digital platforms.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataWith Hypothekarbank Lenzburg as its banking partner, neon offers a private banking account to meet daily requirements. Its offering also includes a payment card without additional base fees.
neon co-founder Jörg Sandrock said: “We’re very happy about how neon grew over the last months and about the great support particularly by Backbone Ventures and Tamedia in this Series A round.
“Together we will continue to digitalise retail banking in Switzerland and make it more affordable.”
Last year, the Swiss fintech signed Contovista as its technology partner to deliver data-driven banking.