SEBA Bank, a Switzerland-based digital asset bank, has wrapped up its Series B investment round, which was joined by the company’s existing as well as new investors.
SEBA Bank CEO Guido Bühler said: “I am delighted that the strengths of SEBA Bank and its track record in 2020 were recognised by our existing key shareholders and new investors leading them to participate in a second capital raise.”
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By GlobalDataThe digital asset firm disclosed neither the size of the investment nor the names of the investors.
However, according to CoinDesk, the company raised CHF20m ($22.48m) in the latest round.
The company, which has licence to offer banking services and may offer financial securities, intends to use the funds to ‘fuel and accelerate’ its growth strategy.
Particularly, the money will be used by the company to expand its product and service offering, increase its lending capacity for clients.
The company in its press statement noted that it will now start leveraging its established hub in Switzerland into new markets.
Bühler added that the company is planning to foray into new markets in Middle East and Asia and support US institutional clients.
The digital asset bank also revealed that it will tokenise its shares of the Series B fundraising soon after the blockchain law will come into force in Switzerland.
The bank is said to have raised more than $103m in its previous funding round in November last year.
