Swiss Fintech Startups Raised CHF 360M in 2019: Swiss Venture Capital Report 2020
by Fintechnews Switzerland February 3, 2020In 2019, Swiss fintech startups raised CHF 360 million in funding through 39 rounds. Compared with the previous year, this represents a 91.8% increase in investment amount and a 50% increase in deal number, according to the Swiss Venture Capital Report 2020.
Invested capital by sector 2019, Swiss Venture Capital Report 2020
Out of last year’s 20 largest funding rounds, all categories included, three went towards fintechs.
FinanceApp (Wefox), a Berlin-headquartered insurtech originally from Switzerland, raised CHF 233.5 million to fuel its global expansion plans. The deal was 2019’s second largest funding round.
Numbrs Personal Finance, which offers an app that enables users to manage their bank accounts in one place and buy financial products, raised CHF 39.2 million to expand across Europe. The deal turned Numbrs Personal Finance into a unicorn and was 2019’s 10th largest funding around.
And Loanboox (Swiss Fintech), one of the biggest peer-to-peer (P2P) financing platform in Switzerland, raised CHF 22 million in a Series B financing round to expand its product range. The round was the year’s 16th biggest rounds.
Other fintech deals that took place last year include Evolute (CHF 10 million), Sonect (CHF 8.5 million) LaterPay (CHF 6.7 million), Neon (CHF 5 million), Amun (CHF 4 million), Algotrader (CHF 3.7 million), Payrexx (CHF 3.3 million), and Smart Valor (CHF 3.2 million).
Zurich leads in fintech deals
Zurich attracted the most fintech investments in 2019 with 84.8% of funding in information and communication technologies (ICT) and fintech going to the canton. Zurich attracted half of the country’s ICT and fintech funding rounds in 2019.
Similarly, ICT and fintech also played a decisive role in Zurich, with 87% of the total capital raised by Zurich startups going towards companies in the sector.
Investment by sector and canton 2019, Swiss Venture Capital Report 2020
But Zurich’s leadership in startup funding goes beyond the ICT and fintech sector. In 2019, Zurich startups raised CHF 1,169 million in funding, or 51% of all capital raised by Swiss startups.
Other cantons that showed dynamism last year include Vaud, where investment grew by 70.4% to CHF 455.7 million, and Zug, where startups raised CHF 240.8 million through 20 deals, a 40% increase compared with the previous year.
Financing sum by canton, Swiss Venture Capital 2020
Swiss venture capital
Overall, 2019 was a good year for Swiss startups. These raised CHF 2,294 million in funding through 266 deals last year, a 80% increase in funding amount compared with the previous year. Among the sectors, ICT stood out with startups in the field, raising CHF 840.2 million in 2019 through 92 funding rounds.
The strong increase in startup funding and deal count in Switzerland last year was due to mega-rounds of more than CHF 100 million. Five mega-rounds took place in 2019. Besides WeFox, these included GetYourGuide (CHF 488.9 million), Arvelle Therapeutics (CHF 208.9 million), Energy Vault (CHF 107.1 million) and ADC Therapeutics (CHF 100.1 million).
Invested capital in and financing rounds of Swiss startups in 2019, Swiss Venture Capital 2020
The release of the annual Swiss Venture Capital report by Startupticker.ch, in partnership with investor association SECA, came on the heels of the announcement of 2020’s contenders for the Swiss Fintech Awards. Each year, the Swiss Fintech Awards recognize Switzerland’s most outstanding fintech startups and personalities.
This year’s nominees include Aidonic, Legartis Technology, Mt Pelerin, Trustless and Value on Chain in the Early Stage category, and Instimatch Global, PriceHubble, Securosys, Sygnum and Yova in the Growth Stage category.
The winners will be announced on March 12.
