SIX FinTech Ventures Acquires Stake in a Swiss Online User Verification Softwareby Fintechnews Switzerland July 3, 2019
SIX Fintech Ventures has acquired a stake in PXL Vision AG, a Zurich-based start-up that began as a spin-off from the ETH Zurich and offers solutions in the area of online user verification.
SIX Fintech Ventures acquisition was made in parts, to digitise its portfolio, one of the key focus areas for the Swiss financial center.
Aside from lead investor SIX, other investors in this seven-figure pre-seed round include Zürcher Kantonalbank and a private business angel.
PXL Vision AG’s Daego solution is a technology that enables seamless online verification of users’ identity with no media break. Daego allows the automatic creation and administration of secure digital identities, sowith this solution, companies can avoid complicated physical verification processes when onboarding customers, reduce costs, and potentially improve customer experience.
Andreas Iten, Head SIX Fintech Ventures said:
“Together with PXL Vision AG, we can now not only support an already experienced startup team, but also a technology that harbors huge potential and that encapsulates our vision of a digitised financial center.”
“The acceptance of digitized business models and solutions is crucial for Switzerland as a financial center. PXL Vision AG’s Daego plays a key part in further increasing this acceptance.”
PXL Vision AG was part of SIX’s F10 P2 program in May 2019 and has won accolades like the Swiss Economic Forum Award.
Since its foundation, PXL Vision AG has established itself on the Swiss market and is growing. Its current focus is on further penetrating the Swiss market and on taking its business global.
Featured image credit: SIX Hard Turm Park, Zurich