Seba – a recently-established crypto assets bank authorized by the Swiss government – is planning to organize a secondary capital raising round, to attract more than  $95 million in additional funds.

Specifically, with the raising round, Seba has set a goal of garnering 100 million Swiss francs – equals to around $96.5 million. “New investors, including financial institutions, family offices and individuals” are reportedly the ones that entered the funding round. 

Previously, SEBA Bank AG has been officially available on November 12th last year, after obtaining the regulatory greenlight from the Financial Market Supervisory Authority (FINMA) in Switzerland, to offer its services in the securities and banking.

Seba has managed to secure a substantial amount of capital in its first fundraising round, with more than $103 million in US dollar bills, as revealed by head of Seba Guido Bühler, on November 12th, 2019. 

“We are proud to have founded a bank within 18 months, raised CHF [Swiss francs] 100 million in capital from investors.”

Only after a month of its official release, Seba has expanded its reach nine more nations, including Hong Kong, the UK, Germany, France, Portugal, Singapore, Italy and Austria.

Seba has also forged an alliance with Hypothekarbank in February of 2019.