neon Raises CHF 11 Million From Institutional and Crowdfunding Investorsby Fintechnews Switzerland November 8, 2022
Swiss neobank neon has closed last week a CHF 11 million financing round from existing investors and some 5,000 investors through its crowdfunding campaign.
Investors in the crowdfunding campaign which ran from October 24 to 31 invested at an average of CHF 1,750 in return for neon shares in the form of tokenised participation certificates.
The crowdfunding campaign, which offered two to 250 non-voting shares priced at CHF 200.00 per share, raised CHF 5 million from 2,000 investors on its first day.
neon also raised a CHF 2.5 million funding round from institutional investors in September. The company says that it aims to be profitable and no longer dependent on external capital after this round.
Founded in 2017, neon recent milestones include reaching 130,000 customers, generating CHF 3.5 million in revenue year to date, and making this year’s TOP 100 Swiss Startup Awards rankings.
“On the one hand, the capital increase is intended to make neon even better as a product and to continue the successful development of the company.
On the other hand, the capital increase has the clear goal of making neon independent of external capital through new products and the achievement of profitability,”
said Jörg Sandrock, CEO and Co-Founder of neon.