Selma Finance to raise CHF 3.5 million from Sparrow Ventures and TX Group.
Selma Finance, a Helsinki, Finland-founded company providing financial services, announced that it closed a CHF 3.5 million ($3.9M) capital funding round.
The money was raised from investors from Switzerland, including TX Group and Sparrow Ventures. At the same time, the company anounced a larger partnership deal with local Swiss bank Migros Bank, which is part of the same retail group that also owns Sparrow Ventures.
The capital will be used to expand digital advice, further growth and launch additional products in the Swiss market.
Selma Finance, founded in 2016 by Kevin Linser, CEO Patrik Schär, Valeria Gasik and Mikael Roos, provides wealth-tech services via a a robo-advisor used to automate investment advice. The company has an office in Switzerland and is regulated as an independent wealth manager in Switzerland.