Source: Venturelab | Author: Guillaume Tinsel
TOP 5 – Meet the Best Swiss Fintech Startups From the TOP 100 Ranking 2019
The TOP 100 Swiss Startup Award ranking features young companies from a range of different sectors. Meet the 5 Swiss startups which took the top spots in the fintech sector in this year’s ranking.
Each year 100 investors and experts choose their ten favourite young companies with the most promising business idea. The result is the TOP 100 Swiss Startup ranking. These experts rely on their instinct to propose startups with the best success potential. Year after year, the ranking provides an instant picture of the most innovative and promising young companies in Switzerland. This 5 Swiss startups took the top spots in the fintech sector in this year’s ranking.
1. ADVANON, Zurich, rank 9
MONEY IN 24 HOURS: Advanon has already awarded more than 5,000 loans to SMEs
Advanon funds SMEs in Switzerland and Germany via its platform with between 70% and 90% of the invoiced amount. The processing via the web is simple and takes place within 24 hours, directly via Advanon or through partners such as AXA, bexio, Basellandschaftliche Kantonalbank or Deutsche Bank, with fees of about 1.75% of the pre-financed sum. Financiers are institutional investors, such as asset managers or family offices. It works for everyone involved: the SMEs obtain the necessary liquidity, the investors can invest their capital profitably and the partners can offer their SME customers a good service. The business is booming accordingly, even though Advanon had to report a major fraud case in 2018. “We learned a lot from that, put more emphasis on quality and developed a proprietary fraud risk model. And with success, as we have since reported a default rate of 0.27% on more than 1,000 loans granted,” says CEO Phil Lojacono. An expansion into other European markets is on the agenda, but first Advanon wants to strengthen its ecosystem and win more partners to pre-finance invoices from SMEs through their own platforms.
2. CRYPTO FINANCE, Zug, rank 17
Crypto Finance AG specialises in crypto assets; the pioneer and its subsidiaries cover the entire digital asset value chain. Crypto Fund, for example, is the first FINMA-approved asset manager for crypto funds in Switzerland, and since autumn 2018 has launched several products for the rapidly growing investment class.
Digitisation is causing a huge change in the financial industry. New processes, services and products are required, and they are often developed by start-ups pushing into the market. Most start-ups are active in the area of digital assets and blockchain. Crypto Finance AG, founded in 2017 by Jan Brzezek (right) and Tobias Reichmuth, covers the entire digital asset value chain with its three subsidiaries: Crypto Fund AG, Switzerland’s only asset manager regulated by FINMA for crypto assets; Crypto Broker AG, active in crypto trading; Crypto Storage AG, which offers infrastructural solutions for the secure storage of digital assets. Its cryptocurrency storage infrastructureis used by both Swiss and foreign financial intermediaries. Crypto Finance has received well over CHF 20 million to date through financing rounds. “Now we are expanding our customer base, working intensively on integrative customer solutions and serving large institutional financial intermediaries, in order to drive forward the full integration of our services,” says founder and CEO Brzezek, who will pitch to investors in Hong Kong in November with Venture Leaders Fintech.
3. PXL VISION, Zurich, rank 32
After the successful sale of Dacuda to Magic Leap, some of the team started PXL Vision as their next venture. A smartphone and a passport are enough for PXL Vision’s software to prove the identity of a user beyond doubt, thus allowing new customers to be onboarded in less than a minute. The start-up’s supporters include the SwissSign group of banks, insurers and other service providers that want to implement a uniform digital identity in Switzerland.
4. ALGO TRADER, Zurich, rank 39
AlgoTrader’s trading platform allows trading companies such as hedge funds to quickly develop, simulate, deploy and automate any quantitative trading strategy, however complex, for each market. The start-up’s platform is in demand around the globe, and in 2018 sales increased by 170% over the previous year.
5. LOANBOOX, Zurich, rank 41
The Loanboox platform brings municipalities, cantons, special purpose associations, other public bodies and large companies together with institutional investors. Investments can be financed in a simpler and more transparent way than before. European expansion is in full swing after a financing round of CHF 22 million in January 2019.