Swiss fintech Advanon raised 13.5 million CHF

Switzerland-based fintech company Advanon announced that it has closed the second round of funding and has raised 13.5 million swiss francs, as Finextra reported.

The funding round saw investors including one of the biggest telecom company from Switzerland, Swisscom, two venture funds b-to-v Partners and VI Partners as well as the founder of Partners Group, Urs Wietlisbach. There are three-quarters available to invest on the platform and one-quarter will be invested in equity. The online platform helps SMEs to bridge the long payment terms that they’re facing nowadays. 

“The reputable investors are helping us on a number of fronts. We are happy that not only the existing investors but also additional strategic investors decided to be part of our story. Together with our partners, we’ll be ready to approach new markets, improve the quality of our product and grow the customer base,” Phil Lojacono, Co-Founder and CEO of Advanon, said, as reported by Finextra.

The online fintech platform has more than 450 investors and managed to establish a wide investor base and has financed all invoices within an average of 5 minutes.