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Neon scores record crowdfunding investment

Neon scores record crowdfunding investment

Swiss fintech neon has raised five million CHF (£3.9 million) in a crowd investing drive that lasted less than an hour.

More than 1700 investors invested within one hour on Monday and will now receive shares in neon in the form of tokenised participation certificates (non-voting shares).

The event comes weeks after neon raised seven million CHF from pre-existing investors in a conventional funding round.

Neon offers basic bank accounts managed by banking partner Hypothekarbank Lenzburg, with baked-in deposit protection of up to 100,000 CHF per customer.

The company - which has around 70,000 customers - recently expanded its range to include neon green, a sustainable account for the Swiss market.

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