Loomis & SixThirty invest in Swiss FinTech startup Sonect

The Swiss FinTech startup Sonect revealed that cash man­age­ment spe­cial­ist Loomis and global FinTech venture fund SixThirty recently invested in the company. Loomis entered into a global part­ner­ship with Sonect and will help to accel­er­ate Sonect’s growth with its expertise and large customer-base. Fur­ther­more, Sonect was selected for the SixThirty go-to-market program, receiving yet another recog­ni­tion of belonging to the most inno­v­a­tive and promising FinTech startups from around the world. These invest­ments follow Sonect’s recent suc­cess­ful com­ple­tion of the 2018 VC FinTech Accel­er­a­tor program, sponsored by leading financial tech­nol­o­gy provider FIS.

 

Loomis joins as investor after announc­ing global part­ner­ship with Sonect
Just recently the global cash man­age­ment spe­cial­ist Loomis announced its global part­ner­ship with the Swiss FinTech. Now Loomis extends its rela­tion­ship by coming on board as an investor.

Loomis is the spe­cial­ist in creating an efficient cash flow in society and operates across more than 20 countries. Loomis offers services from trans­port­ing, pro­cess­ing to storing cash for financial insti­tu­tions and retailers.

“Loomis and Sonect truly com­ple­ment each other. With its expertise and large customer base in the industry, Loomis can help accel­er­ate our growth immensely.”, says Sandipan Chakraborty Founder & CEO of Sonect.

SixThirty selects Sonect as one of the most inno­v­a­tive and promising FinTech
SixThirty is a leading global FinTech venture fund and go-to-market program. SixThirty’s portfolio companies represent the most inno­v­a­tive and promising FinTech companies from around the world. For the fall program, five startups were chosen in close col­lab­o­ra­tion with SixThirty’s corporate partners, such as Commerce Bank, Enter­prise Bank & Trust, Bank of New York | Pershing, and Ernst & Young. SixThirty will support Sonect in launching the platform in U.S.

Besides, Sonect was one of only ten startups selected for the recently completed 2018 VC FinTech Accel­er­a­tor, sponsored by FIS, which took place in Little Rock, Arkansas. Being one of the selected companies, Sonect received a monetary invest­ment along with in-depth mentoring and feedback from FIS executive lead­er­ship and leading financial insti­tu­tions. In its third year the “VC FinTech Accel­er­a­tor” program drew 281 appli­cants from 47 countries.

About Sonect
Sonect is an award winning FinTech company from Switzer­land creating world’s first virtual ATM network. The service makes it possible for any shops to join their platform using a smart­phone and dispense cash directly from the cash register. This reduces ‘cost of cash’ dis­tri­b­u­tion for banks and sim­pli­fies in-store cash man­age­ment for merchants via a location-based on-demand service that allows its users to withdraw cash every­where without a physical ATM machine. Sonect also helps banks expand their services into new regions and increases financial inclusion without any sig­nif­i­cant capital invest­ments. The company is expanding quickly in Switzer­land and already preparing for a European rollout. Thanks to the immense demand of its solution, the company is already planning its inter­con­ti­nen­tal expansion in 2019.

 

Media Relations
Philip Mold­en­hauer
Marketing Manager
[email protected]

 

Invest­ment Relations
Sandipan Chakraborty
Founder & CEO
[email protected]