Switzerland has a long-standing reputation for being a global banking and finance hub, so it’s not surprising that local fintech startups are on the rise and taking the global startup scene by storm. When it comes to bleeding edge fintech innovations, the Swiss are arguably second to none.
From cloud-based insurance platforms to crowdlending solutions, here are 13 Fintech startups from Switzerland you need to know about in 2017.
Bexio’s accounting and contract management solution is currently used by over 10,000 small businesses and startups. The platform streamlines/simplifies accounting processes to allow firms to focus more on increasing productivity, improving customer care, and ultimately—increasing revenue. The company was crowned the 4th Best Swiss Software Startup of 2017 and recently partnered with new investor SwissLife.
Advanon AG has developed a high-speed cashflow management/factoring platform that allows SMEs to quickly finance their invoices and accounts payables online. The offering is faster than banks and allows the client to maintain more control over the financing process.
CreditGate24 AG is an online platform that focuses on crowdlending: peer-to-peer lending techniques for helping small businesses acquire loans from private and institutional investors, instead of going through traditional banks. To date, the company has processed over 1,060 loans and has over 8,300 customers.
Banks and payment solutions increasingly rely on new, alternative forms of authentication and security—facial recognition, biometrics, and more. Biowatch SA adds a new innovation to the mix, using watches as a way to identify users by checking the vein patterns. The solution consists of a waterproof Biowatch buckle attachment for standard watches, controlled via Bluetooth/NFC.
Contovista AG’s goal is to make banking and finance more data-driven—its “Enrichment Engine” structures data and enriches it with metadata, allowing for more accurate and simpler/faster banking transactions. The solution integrates with existing e-banking and mobile banking systems seamlessly and many Swiss firms are currently using it to improve their customers’ experiences.
Real estate investing is no longer an activity relegated to wealthy individuals and institutional investors. Crowdhouse AG has developed a platform that allows consumers to easily co-invest in properties—users get rental income, receive an entry in the land registry as the property’s co-owner, and can exit anytime by selling their shares.
Splendit is a service that helps promising students get the financing they need to attend university. The platform matches users with investors looking to make meaningful investments in the future—specifically, by helping future scholars fund their educations.
If you’ve heard of Bitcoin, you’ve certainly heard of Ethereum; if not, just know that the company launched one of the most successful crowdfunding projects of all time. Its Ether cryptocurrency and decentralized blockchain platform use smart contracts to improve transparency, eliminate tampering, reduce counter-party risk, and more.
ShapeShift offers a web and API platform that provides Bitcoin and altcoin conversions without the typical privacy and security risks of leading exchanges. The company is strictly cryptocurrency-based and is 100% free from banks or political currencies in its operations.
Knip AG is an insurance platform that streamlines all things insurance-related into one app: premiums/policies, benefits, claims, and more. The digital insurance broker partners with some of the country’s leading insurance firms and is considered one of the most successful Swiss fintech startups of all time.
CashSentinel SA’s payment solution makes buying high-ticket products and services a safer, faster, and more convenient affair—especially in second-hand markets (e.g., pre-owned vehicles, used equipment). The company has partnered with AutoScout24 and Protekta, making it available in most of Switzerland.
Fundbase Services AG has developed a cloud-based platform that covers the entire investment process and can even accommodate large-scale investment projects. The solution allows users to search amongst thousands of active investors, as well as receive up-to-date investment strategies and guidelines.
Previously known as Finance Fox, Wefox’s goal is to make the whole insurance process simpler and more accessible. The platform allows users to find the best insurance products suitable to their needs, ensuring the optimal combination of service, benefits, and price.
In short, Switzerland’s fintech and insurtech startups are blazing the path for digital entrepreneurs around the world looking to transform finance as we know it; be sure to keep these 13 innovators on your radar in 2017 and beyond.