Swiss startup Taurus raises $65m to further develop its digital asset platform, fuel international expansion

Swiss startup Taurus raises $65m to further develop its digital asset platform, fuel international expansion

Published: 14-02-2023 08:30:00 | By: Pie Kamau | hits: 3990 | Tags:

Taurus, the digital asset infrastructure provider for financial institutions in Europe, announced a $65 million Series B capital raise from strategic investors.

Taurus' Series B round is led by Credit Suisse and includes participation from new institutional investors such as Deutsche Bank, Pictet Group, Cedar Mundi Ventures, as well as from Series A investors, Arab Bank Switzerland and Investis, a stock-listed real-estate group. Taurus co-founders, Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder and Dr. Jean-Philippe Aumasson, remain the largest shareholders of Taurus and at the helm of the Company. The transaction was approved by the Swiss regulator, FINMA.

Lamine Brahimi, Co-founder and Managing Partner, Taurus: "Raising $65 million in the current market environment tells a lot about the quality of Taurus' people and products. We are proud to welcome such high-profile investors and benefit from their expertise to further develop one of the richest platforms in the industry, covering any type of digital assets, way beyond cryptocurrencies."

The funds will be used to support Taurus' growth strategy across three main priorities: (1) hire top engineering talent to further develop what is considered as the most complete platform in the industry; (2) get closer to clients and expand the sales and customer success organization of its infrastructure solutions with new offices Europe, UAE and soon after in the Americas and South-East Asia, and (3) maintain the most stringent security, risk and compliance requirements across product lines, processes and organizations.

André Helfenstein, CEO, Credit Suisse (Switzerland): "The strategic partnership with Taurus is a cornerstone of the Swiss Bank division's digital assets strategy with the ambition to become the leading Swiss bank in that space. We continue to embrace new and innovative technologies and expect to soon launch several digital asset services for clients both on the issuing and the investment side."

Taurus already works with more than 25 financial institutions and corporate clients in eight countries and three continents, including systemically important financial institutions, retail and online banks, private banks, crypto-banks, investment banks, and broker-dealers. Amongst its clients are banks such as Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote, Vontobel. These achievements allowed Taurus to establish itself as the #1 digital asset infrastructure provider for Tier 1 banks in Europe.

Sabih Behzad, Head of Digital Assets and Currencies Transformation, Deutsche Bank: "We will integrate Taurus' technology in our own IT environment. This will form a key part of our digital asset custody platform and will make it easier for us to develop and roll out our digital asset custody offering. Through this investment, Deutsche Bank is delighted to partner on the development of the market for digital assets."

www.taurushq.com