Crypto Finance AG Raises $14.5M from Big Name Swiss and Asia Pacific Investors

Crypto Finance AG, the operator of several institution-oriented crypto businesses, has raised $14.5 million in a Series B funding round led by investors from across Europe and Asia.

Crypto Finance AG, the operator of several institution-oriented crypto businesses, has raised 14 million Swiss francs ($14.5 million) in a Series B funding round led by well-known investors from across Europe and Asia. 

The Zug-based business will use the funds to continue developing professional crypto asset infrastructure, management and trading services, founder and CEO Jan Brzezek said on April 16.

As reported, one of Crypto Finance AG’s three subsidiaries is the crypto investment fund, Crypto Fund AG, which received Switzerland’s first crypto asset management license from the Swiss Financial Market Supervisory Authority back in 2018.

Crypto Finance AG, a holding company of Crypto Finance Group, also operates two further subsidiaries; Crypto Broker AG and Crypto Storage AG, the latter of which provides storage solutions and tokenization infrastructure.

Bridging between Europe and Asia

The Series B Funding round was led by prominent Swiss investor Rainer-Marc Frey and major Beijing-based private equity fund Lingfeng Capital. PwC is said to have liaised with investors for the Asia Pacific-focused fundraising drive.

In a statement, Dr. Frank Tong, a managing partner at Series B participant QBN Capital, said the Hong Kong-based venture capital firm had invested in Switzerland due to the country’s “robust financial regulatory field and vibrant crypto community.”

Lingfeng Capital partner  Dr. Ming Shu said that the investment opportunity brings Lingfeng Capital both exposure to “promising crypto-asset fintechs working within the regulatory framework” and “a partner with traditional finance sector experience,” adding that:

“We look forward to building a bridge between Europe and Asia with Crypto Finance, and the convergence of traditional and digital asset classes.”

Dr. Shu, who has previously worked with partners such as Alibaba and Henderson Global Investors, looks set to bring her regulatory and industry experience to her future role on Crypto Finance’s Board of Directors, assuming her appointment is confirmed at the company’s forthcoming annual general assembly.

Crypto Finance AG will use the capital to continue its global expansion, as well as to develop further products and services. 50% of Crypto Finance Group’s business is already said to be tied to international clients.

Zug, better known as “Crypto Valley”

As reported, Zug and Switzerland more broadly continue to be a dynamic center for cryptocurrency adoption and development. Earlier this year, Swiss regulators approved what was purportedly the country’s first fully compliant initial public offering on a blockchain.

The IPO involved blockchain firm Overture offering ordinary class-A shares natively on the Ethereum blockchain, using smart contracts provided by the Zug-based European Digital Assets Exchange (EURO DAXX).

Publication date: 
04/16/2020 - 12:50
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