Helvetia Venture Fund invests in Neon

Following a successful collaboration with its digital insurance arm Smile, Helvetia is acquiring a stake in fintech startup Neon. Additional investors in the ~$5.5 million round include QoQa SA, Helvetia Venture and other private investors, as well as existing investors TX Group, Backbone Ventures, the Innovation Foundation of the Schwyz Cantonal Bank and Business Angels.

Founded in 2017, Neon offers an app-based banking solution where users can open a bank account and get a free Mastercard with low fees. A year after its launch, the startup has attracted over 30,000 customers.

“Neon has an excellent product with impressive growth figures. The cooperation with neon gives Helvetia the opportunity to access new customers. We are also confident that neon will further develop the traditional Swiss banking market in the long term.” – Martin Tschopp, Chief Customer Officer at Helvetia Switzerland.

“We are delighted that Helvetia has placed its trust in neon. Insurance is set to become an important additional service as we expand our business model.” – Jörg Sandrock, CEO and cofounder of neon.