Over the last ten years, the Fintech industry has grown tremendously and a lot of the credit should be given to innovators who worked tirelessly to make it a pillar in the financial industry. In that regard, SIX Fintech Ventures have also played a major part in the growth of the industry over the years.
The venture made a major investment in Switzerland-based digital identity verification outfit, PXL Vision. The digital ID firm is also involved in providing customer on-boarding services. Apparently, it will be a crucial investment for SIX. PXL Vision’s founders were formerly into computer vision firm, Dacuda A, which is known for its work in 3D technology.
Room for expansion and development
With SIX’s stake in the digital identity verification firm, it would be far easier for the company to expand its business in the coming years. The fintech industry is a very dynamic sector, and the technology used in the sector is evolving daily. This makes it important for companies to keep investing in the latest technology so they do not lack behind in the industry.
Chief of SIX Fintech Ventures, Andreas Iten, spoke about the deal:
“Together with PXL Vision, we can now not only support an already experienced start-up team but also a technology that harbors huge potential, and that encapsulates our vision of a digitized financial center.”
PXL emergence as a serious contender in the Fintech industry can be ascribed to the F10 tech incubator in Zurich. The company has also been able to produce a few more promising tech companies as well.
PXL is currently the third company from the incubator which is going to receive an investment from SIX’s corporate fund. This is a major development for the Fintech industry and SIX. It has also increased the potentials of tech innovators in the industry.
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