TX Group extends Series A investment in digital financial advisor Fintech Selma Finance

Selma Finance AG, the fastest growing digital financial advisor in Switzerland has ramped up its Series A investment round. The additional CHF 7 million funding has been led by TX Ventures, the VC investment arm of TX Group. It also included significant investments by Sparrow Ventures, VC arm of Migros Group, as well as existing early investors from angel and seed rounds. This investment round shows that Selma Finance has flourished under challenging times and is presenting a valuable business case for Switzerland’s and Europe’s banking sectors. 

Zurich, 01.09. – Selma Finance AG (“Selma Finance”), Switzerland’s fastest-growing Fintech for affordable and high-quality financial advice, extended its Series A funding round by an additional CHF 7 million led by TX Ventures, VC arm of Swiss media company TX Group. In closing this additional deal, Selma Finance has raised CHF 10 million in its Series A round. Sparrow Ventures, VC arm of renowned Migros Group has participated in this financing round again, as well as key partners of well-established venture capital firms and existing angel investors of Selma Finance’s early days. Since the last investment round, Selma Finance managed to triple the client numbers growing to +10’000 clients across Switzerland who invest amounts from 2’000,- to seven-digit sums and has more than doubled their team.

Giving each and every Swiss resident access to individual financial advice and the opportunity to adequately set up their finances for retirement –  regardless of their age – is what drives Selma Finance’s vision. The additional funding will allow the organization to localize its services to the French-speaking region of Switzerland and to continue evolving its product offering. For example, Selma Finance plans to not only offer automated financial advice but also access to financial planning done by experts, including additional options to create personalized portfolios according to personal preferences.

Clients value the company’s easy-to-use web and mobile applications, as well as its beginner-friendly financial platform. The product builds trust through individual assistance – with its “Selma bot” which creates tailored investment plans with algorithms, or via its friendly support team which advises clients to invest according to their financial situation and suitable risk level.

Patrik Schär, Co-Founder and Chief Executive Officer of Selma Finance: “We are very proud of the achievements of Selma and the trust we see from our clients and partners in a challenging market environment. Especially now, our clients have appreciated our unique setup of a digital service combined with tangible advice.  We are very much looking forward to continuing our success story with investors believing in our business case and supporting us as they understand the importance of our product and the strength of our team.”

Krzysztof Bialkowski, Investment Director TX Ventures: “We are proud that we can further support Selma and its strong team with our expertise in marketing, technology and cybersecurity. Selma's clear competitive advantage of making financial advice simple, friendly and accessible allows the company to thrive even in the current difficult economic environment. Impressive growth and more than 10.000 of happy customers are a clear proof of it.”

Yan Waldmeyer, Senior Investment Manager Sparrow Ventures:
“​​Selma Finance has shown tremendous traction since Sparrow Ventures first invested 18 months ago. It was therefore an easy decision to support the team with another investment to make digital investment services accessible to the people in Switzerland. We look forward to further cooperation and to the next milestones.”

TX Group

Karole Verlage Frei, Senior Communications Specialist, TX Group
[email protected]

Selma Finance
Carina Wetzlhütter, Marketing Lead, Selma Finance AG
[email protected]

Migros Gruppe
Stephanie Burtscher, Communications Sparrow Ventures
[email protected]


About Selma Finance
Selma Finance is a digital financial advisor based in Switzerland. The service allows everyone to get access to affordable financial advice, starting at as low as CHF 2’000,- as a minimum investment. The individual investment plans put together by an algorithm create portfolios for clients who want to invest long-term and sort out their finances in the right way. The digital advisor also offers personal financial checkups by a team of financial planners to assist clients across different life phases – from starting to investing throughout their career, their private life, and leading up to retirement. Automation and relying on the newest technologies allow the Selma service fee to stay low and make returns on investments promising for everyone looking to build their wealth over time. Founded by a team of experienced entrepreneurs from Switzerland, Austria, Finland, and Ukraine, in 2015, the startup is growing rapidly and is backed by the VC investment arms of Switzerland’s biggest players: TX Ventures (TX Group), and Sparrow Ventures (Migros Group).

About TX Group
The TX Group forms a network of platforms and participations that offers users information, orientation, entertainment and assistance for everyday life on a daily basis. Its roots lie in journalism with the diverse newspapers of Tamedia and the free media of 20 Minuten. The portfolio is complemented by the advertising marketer Goldbach. The TX Group is an anchor shareholder of the SMG Swiss Marketplace Group and JobCloud, holds majority stakes in Doodle and Zattoo and is an investor in the fintech sector through TX Ventures. The portfolio of TX Ventures includes the minority stakes in the platforms Everon, Helvengo, Lend, Lykke, Monito, Neon, PriceHubble, Selma Finance and Stableton. In addition, TX Ventures is invested in Backbone, Helpling Switzerland and Picstars. Founded in 1893, TX Group has been listed on the Swiss stock exchange since 2000.

About Sparrow Ventures
Sparrow Ventures is a Zurich-based venture builder and growth capital provider. With a unique organizational structure and an experienced team of experts from different disciplines, Sparrow Ventures focuses on building and financing young companies in a variety of relevant fields, in particular Food & Beverage, Last-Mile, Fintech, Digital Health, Sustainability & Circular Economy, Commerce & Shopping and newly also Travel. Sparrow Ventures is an independent subsidiary of Migros Group.