Switzerland-based digital assets banking platform SEBA Bank has raised €100 million ($118.6 million) in its latest funding round, the bank announced Wednesday.
The Series C round, co-led by Alameda Research and DeFi Technologies, saw participation from Altive, Ordway Selections, and Summer Capital as well. As part of the deal, DeFi Technologies will also sit on SEBA Bank’s Board of Directors.
Established as a crypto banking service provider in 2018, SEBA bank has now expanded its offering to crypto trading and custody for institutional investors. It obtained a license from Switzerland’s regulatory body FINMA in 2019, making it the first crypto-focused company to earn FINMA’s license.
With fresh funds at hand, SEBA bank is eyeing global expansion, starting with middle-east. The swiss digital bank is currently supporting 25 markets globally, with a presence in Hong Kong and Singapore
In addition, the company plans to allocate funds to drive demand from institutional investors in the crypto industry as well as expand its team by hiring new talent.
“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,” Guido Buehler, CEO at SEBA Bank, said in the press release.