Cerchia, a Zug-based fintech startup enabling direct risk transfer between investors and buyers of insurance coverage, has obtained CHF 1.3 million in a seed financing round. High-Tech Gründerfonds and with private investors contributed to the round.
Founded in 2020 by two Swiss capital markets and risk management veterans, Michael Rey (CEO) and Fabian Buchmann (COO), Cerchia has the vision aims to contribute to a more resilient world by linking capital markets and digital asset markets. The startup is developing the world’s first marketplace for direct risk transfer (DRTTM) built on the Zilliqa Blockchain to allow buyers and sellers to transfer risk peer-to-peer. The platform also allows for automated parametric event risk payouts/returns, thus opening access to new investors to transfer common and new risks like non-damage business interruption, supply chain disruption, and pandemics. The digital marketplace will help reduce the growing gap of over USD 1,860 billion between insured and uninsured economic risks (Protection Gap).
This spring, the startup plans to launch its first product, executed classically (off-chain) or innovatively (on-chain) depending on customer needs. The fresh capital from High-Tech Gründerfonds and private investors will help accelerate the time to market.
Michael Rey, CEO and co-founder of Cerchia: “I am very pleased with our investors' confidence in our mission. The investment will help us grow the team and invest in technological advancements to provide a comprehensive, direct risk transfer experience to our global clients.”
Dominik Lohle, Senior Investment Manager at HTGF, says, “Investing in companies that address problems caused by climate change is not only a social concern, but also shows potential. Cerchia has found a unique and innovative solution to address the problem of growing climate risks with unprecedented efficiency using distributed ledger technology. We are excited to launch the solution to market with Cerchia.”
Dr. Fabian Bachmann, COO, and co-founder of Cerchia adds: “With HTGF and other investors as partners at our side, we have reached an important milestone. As of now, we start to launch several new products and invest in our DRTTM platform to create an efficient, transparent and compliant capital market solution.”
(Press release/RAN)
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