Swiss digital asset banking group Sygnum has raised $58 million in an oversubscribed strategic growth round, pushing its valuation beyond $1 billion.
Bitcoin-focused venture capital firm Fulgur Ventures led the final close as cornerstone investor, joining new and existing strategic investors alongside Sygnum team members.
Notably, the co-founders, board, and team members maintain majority ownership.
The banking group manages over $5 billion in total client assets, with trading volumes surging more than 1,000% year-over-year in 2024, according to a statement shared with Decrypt. This was achieved through Sygnum’s partnership with PostFinance, which began in April 2023, the statement claims.
Despite these milestones, Sygnum co-founder and group CEO Mathias Imbach believes that Switzerland, at a broader level, is "losing ground to other jurisdictions."
This means that the country should "not ignore the importance of continuous innovation in the financial sector," Imbach said.
The growth round will fuel Sygnum's expansion into EU/EEA markets and launch its regulated presence in Hong Kong. The company ...
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