Taurus Group is looking to expand its digital asset solutions after securing over €10 million in a Series A funding round led by Arab Bank (Switzerland).
The Geneva, Switzerland-based company, which offers market infrastructure solutions for digital assets to institutional clients, announced Wednesday it plans to expand operations with the opening of offices starting in London, Paris and Frankfurt.
Arab Bank Switzerland, which describes itself as a bridge between the Arab and Western worlds, led the Series A with private Swiss bank Lombard Odier, listed real-estate group Investis and the Tezos Foundation – as well as unnamed strategic and private investors – all joining the round. Taurus' co-founders will remain majority shareholders, the firm said.
“The financial industry of tomorrow will leverage the blockchain technology both via traditional asset tokenization and digital assets," said Serge Robin, CEO of Arab Bank (Switzerland). "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.”
Series A financing is generally undertaken to ensure the continued growth of a company with the intention of reaching milestones in product development and attracting the new talent needed for further expansion.
Sebastien Dessimoz, co-founder of Taurus Group, said the firm will scale up its product and engineering teams as it launches in 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,” which includes Germany, Austria and Switzerland, Dessimoz said.