Digital banking innovator CREALOGIX has raised 25 million Swiss francs ($25.4 million) in a convertible bond offering launched in late October and placed with institutional investors. The fundraising is the largest fintech investment of the year in Switzerland.
CREALOGIX CEO Bruno Richle said the”very oversubscribed” investment will help his company grow “not only in Switzerland, but also in Germany and Great Britain.” Richle added that the funds will help drive innovation in the company’s Digital Banking Hub.
From left: Antony Bream, managing director, United Kingdom, and Roger Gatti, senior product manager demonstrated CREALOGIX’s BankClip at FinovateEurope 2015 in London.
Proceeds from the convertible bond sale will also support CREALOGIX’s new stake in German fintech, ELAXY. ELAXY provides interactive advisory solutions for banks, and CREALOGIX has acquired 80% of ELAXY Financial Software and Solutions and 20% of ELAXY Business Solution and Services. Combined, the two businesses have annual sales of €10 million.
Founded in 1996 and headquartered in Zurich, Switzerland, CREALOGIX demonstrated its BankClip technology at FinovateEurope 2015 in London. The company announced its outlook for fiscal 2015-2016 last month, signaling net sales of “at least CHF 54 million” which would represent growth of more than 10%. The company unveiled the latest edition of its Digital Banking Portal this spring with new PFM and fund-brokerage features, and added biometric authentication via TouchID to its mobile banking solutions in February 2015.
If you’re a fintech fan in the United Kingdom or Europe, then make sure to mark 9/10 February 2016 on your calendar as FinovateEurope returns to London. Learn more about the first fintech event of 2016 at our FinovateEurope 2016 page.