Six Fintech Ventures leads €4.3m round for PXL Vision

Harriet Matthews
21 May 2020

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Existing investor Six Fintech Ventures has led a €4.3m funding round for Switzerland-based ID verification software platform PXL Ventures, along with participation from ZKB and High-Tech Gründerfonds (HTGF).

Also participating in the round were Arab Bank, and angel investors Beat Schillig and David Studer.

The company plans to use the fresh capital to expand beyond Switzerland, according to a statement.

Andreas Iten, managing director of Six Fintech, will join PXL's board as a director.

Six Fintech Ventures is the corporate venture capital arm of Zurich-based financial services company Six. The firm has a CHF 50m fund and targets financial services startups, investing CHF 200,000-3m in seed and series-A rounds.

HTGF is currently deploying from its third fund, which held a final close in May 2018 on €316.5m. The vehicle deploys equity tickets of €600,000-2m and invests in technology companies; it is backed by the German Ministry for Economic Affairs, as well as other public financial institutions and investors.

Previous funding
Six Fintech backed a €1-9m funding round for PXL in July 2019. Prior to this, the company had received a CHF 30,000 grant from MassChallenge Switzerland.

Company
Founded in 2017, PXL Vision provides AI-based ID verification software for businesses to use in customer ID checking processes. The software verifies ID documents and uses biometric facial recognition and liveness checks for comparison. The company's customers include clients in the e-commerce, telecommunications and travel sectors, such as ZKB, SwissID, Swisscom and UPC, according to its website.

PXL is based in Zurich and has 40 employees, according to a statement.

People
PXL Vision – Michael Born (CEO).
Six Ventures – Andreas Iten (managing director).