July 5, 2024
Success does not arrive overnight
Dear reader
Fintech findependent had actually planned a crowdfunding campaign in several phases. First, the users of the investment app were to be involved, then the campaign was to be opened. But this never happened. Customers pledged the sought-after CHF 5 million within just 30 hours. However, the campaign did not mean overnight success. Since its launch in 2021, findependent has attracted 13,000 customers and assets under management have risen to more than CHF 100 million. All this has been achieved with an astonishingly small team.
Another important transaction this week also has a history: 42matters, known for its high quality data in the app intelligence space, has been acquired by Similarweb, a global leader in digital intelligence. The company has been a vital partner in Similarweb’s app intelligence service for two years.
Overnight success has never existed in the start-up world and even more so today a start-up has to offer substance and build trust if it wants to find the necessary partners for further growth. This also applies to investors. Geneva-based Forestay Capital has closed its second fund at USD 220 million. The first fund showed a strong performance, resulting in three unicorns and two highly profitable exits. The closing of the second fund is good news for the entire Swiss ecosystem, as Forestay is one of the few Swiss VCs that focuses on the growth phase.
Partnerships are an effective way of building trust in the market. Our article on Droople explains how the cleantech company is building an international network and how its various partners contribute to its success. The right supporters can also ensure trust: fluidbot, which like Droople is active in the water sector, has secured financial support from the Swiss Association for Water, Gas and District Heating. The experts are clearly convinced that fluidbot’s inspection robot for drinking water pipes can be successful.
A remarkable jury has honoured Haya Therapeutics: the Lausanne-based biotech has won the first Andreas & Thomas Struengmann Award. The eponymous pair built up a successful pharmaceutical company in Germany and sold it to Novartis for EUR 5 million. Özlem Türeci, co-founder of BioNTech, is also a member of the jury.
Next week, swissnex Startup Managers will be on a roadshow in Switzerland. You can meet them at an event for life sciences start-ups at the Biopôle, Lausanne on Wednesday and in Bern on Thursday. The registration period for a number of awards, including the Swiss Technology Award, Venture Leaders Medtech, i4Challenge and the Future of Health Grant, runs until the end of July. The complete list can be found in our Awards section.
Have a good weekend.
Stefan Kyora
Editor in Chief, Startupticker.ch