Sygnum achieves unicorn status

(CONNECT) Sygnum has crossed the unicorn threshold with a capital increase of 58 million dollars. This makes the internationally active digital banking group with headquarters in Zurich and Singapore one of currently five Swiss unicorns, according to a recent overview by CB Insights. There are currently 1257 worldwide.

The main investor in this oversubscribed strategic growth round was the venture capital company Fulgur Ventures from the US state of Delaware. According to a press release, new and existing investors as well as Sygnum employees also participated. Accordingly, the co-founders, board and team members continue to hold the majority of the shares.

The fresh capital is intended to drive forward the expanded market entry in the EU and the European Economic Area in 2025. Sygnum also wants to establish a regulated presence in Hong Kong. In addition, the Bank intends to expand its institutional infrastructure, extend its product portfolio and create opportunities for strategic acquisitions. In addition, the funds are intended to further strengthen organizational and operational resilience, the compliance teams and risk management.

Sygnum cites the multi-year growth of its core business as the basis for the success of this financing round. For example, the total number of annual trading transactions in 2024 increased by more than 1000 percent year-on-year. This growth was supported last year by the introduction of the two platforms Sygnum Protect and Sygnum Connect.

Co-founder and CEO Mathias Imbach sees the achievement of Unicorn status as a "strong endorsement of our business model, our strategy and our team by the market". According to Gerald Goh, Co-Founder and CEO APAC, offering a trusted institutional infrastructure "will continue to be the foundation of Sygnum's future growth strategy". ce/mm