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Neon scores record crowdfunding investment

Swiss fintech neon has raised five million CHF (£3.9 million) in a crowd investing drive that lasted less than an hour.

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Neon scores record crowdfunding investment

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More than 1700 investors invested within one hour on Monday and will now receive shares in neon in the form of tokenised participation certificates (non-voting shares).

The event comes weeks after neon raised seven million CHF from pre-existing investors in a conventional funding round.

Neon offers basic bank accounts managed by banking partner Hypothekarbank Lenzburg, with baked-in deposit protection of up to 100,000 CHF per customer.

The company - which has around 70,000 customers - recently expanded its range to include neon green, a sustainable account for the Swiss market.

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