Start-Up Spotlight – SwissBorg
Year launched: 2017
Management team: Cyrus Fazel CEO and Anthony Leisomier-Geniaux
In no more than 50 words describe what you do: At SwissBorg we are aim to create a decentralized banking backbone built around community-centric values and entirely owned by the community. Where individuals and DAOs benefit from democratic, transparent and trustful investment services to manage their crypto-wealth. On the other side, Investment managers and Financial Advisors get access to cryptocurrency asset class and best-of-breed technologies (blockchain & AI) to better serve their clients.
How did the idea for the business originate? The banking industry does not look the way it should in the age of digitalisation. Bad practices from a monopolistic banking system are lingering and financial players have been reluctant to embrace change. Professional wealth management services remain only reserved for the elite client base while the vast majority is strictly cut-off. Notwithstanding signs of changes in client's expectations, it is still difficult for bankers to be confronted with reality. The reality is that there is an urgent need for a community-centric approach where the banking system benefits are for all, not just a few. That is a pattern already seen in times of great disruption. Today, together with the community, we have decided to fill in the gap by building a self-regulated banking system where everyone benefits from the best DAO standards combined with a meritocratic Cyber banking system.
Do you have customers yet? If not, how far into your business lifecycle are you? We are at the early stage of development, however, we already have Private banks, hedge funds, family offices and HNWI committed to become our clients.
How have you funded your growth to date? Cash position: 1M in crypto, 11M in Escrow, Amounts invested by founders / managers: 400,000.
What would a successful 2017 look like for you? To run an ICO 21 November and finish it in one month raising CHF 50 Mio.
Outside of your own business, which start up do you admire the most and why? (Doesn’t have to
be fintech) Swisscode - they first brought private banking through digitalisation and automation, partly meeting our own philosophy. MAST (meritocracy, accessibility, Swiss made and trusted) philosophy combined with our business practice CADDO (customization, automation, digitization, decentralisation and optimisation) have been and will create efficiency all along the investment chain until the community would be mature enough to sustain itself.