About Sonect
Sonect is a company based in Zurich (Switzerland) founded in 2016.. Sonect has raised $13.95 million across 6 funding rounds from investors including FIS, Loomis and Italian Angels for Growth. Sonect offers products and services including Sonect App and Cash Sending Feature. Sonect operates in a competitive market with competitors including SOCASH, SPARE, PocketATM, Airbanq and Nakitex, among others.
- Headquarter Zurich, Switzerland
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
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- Legal Name Sonect Ag
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$13.95 M (USD)
in 6 rounds
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Latest Funding Round
$5.39 M (USD), Series A
Oct 19, 2021
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Investors
FIS
& 5 more
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Employee Count
Employee Count
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Products & Services of Sonect
Sonect offers a comprehensive portfolio of products and services, including Sonect App and Cash Sending Feature. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for secure cash withdrawal and money transfer via partner shops
Feature to send money quickly to friends using the app
Funding Insights of Sonect
Sonect has successfully raised a total of $13.95M across 6 strategic funding rounds. The most recent funding activity was a Series A round of $5.39 million completed in October 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series A — $5.4M
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First Round
First Round
(01 Jun 2016)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2021 | Amount | Series A - Sonect | Valuation | Italian Angels for Growth |
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| Dec, 2019 | Amount | Series A - Sonect | Valuation |
investors |
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| Feb, 2019 | Amount | Seed - Sonect | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Sonect
Sonect has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include FIS, Loomis and Italian Angels for Growth. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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A network of business angels is formed to support innovative startups.
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Founded Year | Domain | Location | |
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Startups in the FinTech sector are accelerated by Finnovista.
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Founded Year | Domain | Location | |
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University backed startup accelerator
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Sonect
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Sonect
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Sonect Comparisons
Competitors of Sonect
Sonect operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as SOCASH, SPARE, PocketATM, Airbanq and Nakitex, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cash withdrawals are enabled through a mobile app platform.
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| domain | founded_year | HQ Location |
Cash withdrawal solutions are enabled for consumers via virtual ATMs.
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| domain | founded_year | HQ Location |
App-based cash dispensing and withdrawal solutions are provided for users.
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| domain | founded_year | HQ Location |
Offers a mobile app for cash checking and management.
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| domain | founded_year | HQ Location |
Offers an app-based platform for convenient cash withdrawals.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Sonect
Frequently Asked Questions about Sonect
When was Sonect founded?
Sonect was founded in 2016.
Where is Sonect located?
Sonect is headquartered in Zurich, Switzerland.
Is Sonect a funded company?
Sonect is a funded company, having raised a total of $13.95M across 6 funding rounds to date. The company's 1st funding round was a Seed of $17.22K, raised on Jun 01, 2016.
What does Sonect do?
Sonect was founded in 2016 in Zurich, Switzerland, within the fintech sector. A network of partner shops and kiosks is established to facilitate cash withdrawals using mobile apps, bypassing traditional bank visits. ATM maintenance costs for banks are reduced through this system, while participating merchants receive commissions and decrease their cash handling responsibilities. Operations focus on urban accessibility across Europe.
Who are the top competitors of Sonect?
What products or services does Sonect offer?
Sonect offers Sonect App and Cash Sending Feature.
Who are Sonect's investors?
Sonect has 6 investors. Key investors include FIS, Loomis, Italian Angels for Growth, Finnovista, and Venture Kick.
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