Digital assets startup SEBA Bank raised $120 million in a Series C funding round led by Altive, Ordway Selections, Summer Capital and DeFi Technologies. Alameda Research also participated in the oversubscribed round, along with a core partner of FTX, and existing investors, including Julius Baer, according to a press release on Wednesday (Jan. 12).
The fresh capital will be used by the Zug, Switzerland, company to build on the growth it has experienced over the past year. SEBA Bank operates across 25 global markets and solidified its presence in Asia-Pacific (APAC) with a new CEO in the region that cemented its Hong Kong and Singapore reach. The company also opened an office in Abu Dhabi, with the Middle East being another priority market.
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Licensed by the Swiss Financial Market Supervisory Authority (FINMA) as a digital assets banking platform, SEBA Bank recently expanded its executive team with new senior-level appointments and has plans to add additional talent as the startup expands into new markets.
“This funding represents a significant milestone for SEBA Bank, is a testament to our foundations, and confirms our vision of being a global leader in new generation finance, enabled by blockchain technology and our comprehensive banking license,” said Guido Buehler, CEO at SEBA Bank.
“With the support of such a strong group of investors, offering depth and breadth across the domains of finance, FinTech and blockchain, SEBA Bank is privileged to access a wide range of new skills and capabilities to fast-forward our growth plans. This funding will allow us to further develop our digital asset banking platform and strengthen our presence in markets across the globe by attracting new talent,” Buehler added.
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The bank plans to leverage the strategic expertise of its investment partners, many of whom are specialists in areas related to digital assets. SEBA also is dedicated to continuing to innovate its digital asset banking and investment services.
“Given the global regulatory trend of digital assets, we envision that regulated crypto financial institutions like Swiss licensed SEBA Bank would become the cornerstone of the future finance. We are honored to have joined the company’s mission to make digital assets more accessible to the general public,” said Cheney Cheng, managing partner of Altive.
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