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Media release
Venturing & incubation

Helvetia Venture Fund acquires stake in Swiss fintech company neon

The Helvetia Venture Fund is investing in the Swiss fintech company neon, which offers low-cost, app-based banking. Helvetia sees great potential in neon's business model. The two companies already enjoy a successful cooperation: This summer, Smile, the leading Swiss digital insurance solution from Helvetia, and neon began offering the first mobile bancassurance solution in Switzerland.
26.08.2020
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Herzog & de Meuron Basel Ltd. / Helvetia Versicherungen / Erweiterungsbau West St. Gallen / Extension of Head Office, West Wing, St. Gallen, Switzerland
The Helvetia Venture Fund holds a stake in neon. The fintech company provides the leading app-based Swiss banking solution, in which users can open a bank account and get a free Mastercard. neon is extremely convenient and offers low fees, particularly for international transactions, and attractive exchange rates. Unlike foreign challenger banks, neon issues accounts with a Swiss IBAN, which are also covered by the Swiss deposit protection scheme thanks to a cooperation with Hypothekarbank Lenzburg. Just one year after its launch, more than 30,000 customers are using the straightforward banking app.
 
This round of investments includes the new investors QoQa SA, Helvetia Venture Fund and other private investors, as well as existing investors TX Group, Backbone Ventures, the Innovation Foundation of the Schwyz Cantonal Bank and Business Angels.
 
First fintech investment by the Helvetia Venture Fund
Smile, the Swiss digital insurance solution from Helvetia, and neon presented Switzerland's first mobile bancassurance solution in early summer. They are currently looking at expanding their cooperation further. This potential for closer cooperation prompted the Helvetia Venture Fund to invest in the fintech market for the first time. "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", explains Martin Tschopp, Chief Customer Officer at Helvetia Switzerland. Jörg Sandrock, CEO and co-founder of neon, adds: "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."
 
 
This media release is also available on our website www.helvetia.com/media.

Contact information
Analysts
Susanne Tengler
Head of Investor Relations
 
Phone: +41 58 280 57 79
investor.relations@helvetia.ch
Media
Jonas Grossniklaus
Senior Manager Corporate Communications & PR
 
Phone: +41 58 280 50 33
media.relations@helvetia.ch