Taurus Group Secures Over $10M in Series A Funding Round
- Taurus Group will use the newly acquired funds to grow its team, and expand its business into new markets across Europe.
- The private Swiss bank Lombard Odier, real-estate group Investis, and the Tezos Foundation also joined the funding round.
From left: Taurus co-founder and managing partner Lamine Brahimi, co-founder and chairman Oren-Olivier Puder, co-founder and managing partner Sebastien Dessimoz, and co-founder and head of security Dr. Jean-Philippe Aumasson. Taurus
Digital asset infrastructure company Taurus has secured over $10 million in a series A funding round led by Arab Bank Switzerland, the firm said in a press release on 29 April.
According to the announcement, the Switzerland-based firm plans to use the newly-acquired funds to strengthen its engineering team, and expand its operations in Europe by opening new offices, starting with London, Paris and Frankfurt. While the firm did not reveal the amount invested, it did say it was an “8-digit” figure in Swiss francs, which would imply an investment of over $10 million.
Sebastien Dessimoz, co-founder of Taurus Group, said:
“We are looking forward to scaling up our product and engineering teams and to opening new markets. Taurus is already well established in Switzerland and we have seen a growing demand from other European countries, including France, the United Kingdom and the DACH region.”
Leading the funding round was one of the first banks in Switzerland to offer digital asset services, Arab Bank Switzerland. Joining the Series A Funding round were also a number of strategic investors, as well as existing private investors, such as private Swiss bank Lombard Odier, real-estate group Investis, the Tezos Foundation. With that said, the firm’s co-founders will remain the majority shareholders.
Serge Robin, CEO of Arab Bank Switzerland, said:
“The financial industry of tomorrow will leverage the blockchain technology both via traditional asset tokenization and digital assets. We are excited to invest in the leading Swiss fintech offering an outstanding digital asset infrastructure, thus contributing to a much needed evolution of our industry.”
Taurus and Arab Bank Switzerland partnered for the first time in September of last year, when the bank started to offer its clients Bitcoin (BTC) and Ethereum (ETH) custody and brokerage services.
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