Seba to Hold Fundraiser to Establish A Secondary Capital
Seba is a new digital asset bank holding regulatory licensing based in Switzerland. The bank is attempting to develop a secondary capital of more than $95 million in additional funds. According to Financial News London on the 17th of January, the firm wants to secure 100 million CHF(96.5 million USD) from new investors, financial institutions, family offices, and individuals.
Seba Bank AG is a crypto-friendly startup, and the announcement of its launch emerged in November 2019. The announcement came following the approval of Switzerland’s Financial Market Supervisory Authority (FINMA) for operation in securities.
This startup firm raised remarkable capital in its initial fundraising effort, as it secured more than 103 million USD. On the 12th of November 2020, the CEO of Seba, Guido Buhler, in a press release, said they are pleased to establish a bank within one year and six months and for raising 100 million CHF in capital from investors.
A month following its launch announcement, there were reports that the firm expanded to nine other countries, including Hong Kong, the UK, Germany, France, Portugal, Singapore, Italy, and Austria. Another report highlighted a partnership between the firm and Hypothekarbank in February 2019.