The Zurich-based challenger bank neon announced that it has received funding of 7 million CHF from its pre-existing investors.

Thsi includes TX Group, BackBone Ventures, QoQa Services SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank’s innovation foundation, as well as private investors.

With 70,000 customers already on board, neon is launching equity crowdfunding with tokenised non-voting shares (participation certificates) in June so these users can have a hand in its future success.

neon is creating new, tokenised non-voting shares (participation certificates) for the future crowd investors, which will be held in a personal wallet.

The Swiss digital asset specialist Sygnum Bank is acting as the tokenisation partner.

“We can sense just how committed our users are to neon, so we’ve reserved an additional 1.5 million CHF for direct investments, after the financing round,”

said Yves Collet, CFO at neon.