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]