SIX FinTech Ventures has acquired a stake in PXL Vision AG, strengthening its position in innovative sectors of the financial industry. Zurich-based start-up PXL Vision AG began as a spin-off from the ETH Zurich and offers solutions in the area of online user verification.
In acquiring the stake, SIX FinTech Ventures has added another key element of digitization to its portfolio, which will be of particular relevance to the Swiss financial center. PXL Vision AG’s Daego solution is a technology that enables seamless online verification of users’ identity with no media break. With this solution, companies can avoid complicated physical verification processes when onboarding customers, reduce costs and provide their customers with a seamless, positive experience. Daego thus allows the automatic creation and administration of secure digital identities.
“Together with PXL Vision AG, we can now not only support an already experienced start-up team, but also a technology that harbors huge potential and that encapsulates our vision of a digitized financial center,” explains Andreas Iten, Head SIX FinTech Ventures. “The acceptance of digitized business models and solutions is crucial for Switzerland as a financial center. PXL Vision AG’s Daego plays a key part in further increasing this acceptance.”
Karim Nemr, founder of PXL Vision AG: “We are pleased with SIX FinTech Venture’s participation and the trust it has placed in us. SIX FinTech Venture’s support and market access mean we are ideally positioned to advance the digitization of the financial center and to provide users with simpler and more secure access to financial services.”
PXL Vision AG successfully completed F10’s P2 program in May 2019, has won accolades such as the Swiss Economic Forum Award and already convinced many Swiss companies of the scalable technology that underpins Daego. SwissSign is also working with Daego for user verification as part of the SwissID.
Since its foundation, PXL Vision AG has successfully established itself on the Swiss market and is growing. Its current focus is on further penetrating the Swiss market and on taking its business global. Aside from lead investor SIX, other investors in this seven-figure pre-seed round include Zürcher Kantonalbank and a private business angel.
All about PXL Vision AG and © Image: https://pxl-vision.com
Further Information: https://www.six-group.com