Swiss exchange SwissBorg completed its community fundraising round late last week, raising 16,660 retail investors. The round closed with a value of 21.27 million Swiss francs
SwissBorg completes community fundraising round
Swiss cryptocurrency exchange platform SwissBorg (CHSB) finalized its community fundraising last week:
Love to see us making noise in the cryptospace with headlines like these: “SwissBorg raises USD 23 million in community funding round” – Venturelab https://t.co/AsI4A8pWCE
– SwissBorg (@swissborg) April 3, 2023
This Series A financing round totaled 21.27 million Swiss francs, or just over $23 million. In total, exactly 16,660 individual investors were able to participate in order to hold a share of the exchange’s capital.
On LinkedIn, Cyrus Fazel, CEO and founder of SwissBorg, expressed his pride in this operation:
“Our mission is to create a new world of opportunities for our clients.
Our mission has always been to democratize wealth management and offer our users the opportunity to become shareholders and replace the traditional venture capital model. With this record-breaking funding round, we’ve taken a big step towards achieving that goal. “
A valuation of over 200 million Swiss francs
As part of this community fundraising, SwissBorg had specified that at the end of the operation, the community would own 9.53% of the shares of SBorg SA, the exchange’s main holding company. More precisely, the investors actually bought shares in SwissBorg Community AG, and it is this company that is to acquire capital in SBorg.
This financing round brings SwissBorg’s valuation to 223.14 million Swiss francs. To date, the platform, which benefits in particular from the registration of provider on digital assets (PSAN), has more than one million registered users.
While crypto-currencies have been on the rise this year, SwissBorg’s token, the CHSB, has failed to capitalize on this trend. Indeed, it is trading at $ 0.182 at the time of writing, a decline of more than 5% since January 1.
