When Roger Studer left his job as head of Vontobel’s investment bank, he decided to start his own family office. And now, he is taking center stage in the fledgling industry of crypto-banking: he is to be the lead investor in a Series A and first-ever capital raise of Bitcoin Suisse, according to a statement released on Friday.

The sale of 20 percent of its shares values Bitcoin Suisse at 275 million Swiss francs ($283 million).

Studer Expects Rapid Growth

Studer’s decided to take a major stake in Bitcoin Suisse because of the company’s position as market leader in the Swiss crypto-financial market, its high-quality offering and proven business. He expects the firm to grow rapidly.

Niklas Nikolajsen, the found of Bitcoin Suisse, last year had told finews.com about the planned capital raise. The company had built equity of about 54 million francs over the years of its existence but needed more to broaden its business reach and to boost its rate of growth.

Application for Banking License

Bitcoin Suisse in 2019 applied for a bank license with the country’s regulator, Finma. It expects to receive the license in the second half of the year and plans to go public in a next step.

The subscription is open from May 11 through mid-June 2020 and investors can participate with a minimum 250,000 francs.