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neon’s Crowdfunding Campaign Reaches CHF 5 Million on Its First Day

Swiss neobank neon’s crowdfunding campaign reached CHF 5 million of its CHF 10 million target with more than 2,000 investors participating on the first day of the campaign.

The campaign, which runs from October 25 to 31, is offering two to 250 non-voting shares priced at CHF 200.00 per share. The company aims to sell a total of 50,000 shares.

According to the campaign page, neon’s recent milestones include hitting 130,000 users, generating CHF 3.5 million in revenue year to date, and launching new card and community features.

neon’s Crowdfunding Campaign Reaches CHF 5 Million on Its First Day

The company says that it expects to reach CHF 6 million in sales by the end of the year, and that it plans to move into stock and cryptocurrency trading next.

neon shared that it also raised CHF 2.5 million in funding from institutional investors in September.

The latest raise follows the company’s previous CHF 7 million Series A led by TX Group’s TX Ventures and CHF 5 million crowdfunding campaign in mid-2021.

Founded in 2017, neon provides an account, app and card for receiving, transferring, and saving money. The company also made this year’s TOP 100 Swiss Startup Awards rankings.

neon’s Crowdfunding Campaign Reaches CHF 5 Million on Its First Day
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Fintechnews Switzerland
Fintech News Switzerland provides a source of timely, deep insights and the latest local and global news about Fintech. Launched in 2014, the Fintech News Network team works very hard to deliver fintech-centric content in various forms to an audience looking for updates on fintech events and webinars, stunning opinions from highly-reputable digital finance innovators, analysis on fintech applications from active insiders, breaking news on fintech topics and fintech market alerts.
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