Press

wearonize outperforms by 90 % in Companisto investment round

By Maria Pinzger
January 6, 2022

Lucerne, 6 January 2022 – The Swiss company wearonize AG starts the new year with the push from a more than successful investment round: From September to December 2021, angel investors as well as commercial and private investors invested more than 1.6 million euros in the fintech start-up for future-oriented wearable payment solutions (for banks and producers alike) via the investment and crowdfunding platform Companisto. As a result, wearonize outperformed its original investment target by 90%.

On 21 December 2021, the Companisto investment round launched by wearonize in September ended with a total of €1,613,856 – after two extensions.

90 % outperformance - also thanks to successful business development during the investment phase

The original goal of FinTech wearonize, which has already become the world’s leading “fulfilment-as-a-service” provider for wearable payment solutions (for producers and banks) since its market launch in August 2020, was €850,000 – as well as a proof point of how the wearonize business model is also and especially well received by private investors:

“For us, equity crowdfunding, in addition to the monetary aspect, offers further proof of the market acceptance of our idea. As a B2B partner that supports banks and manufacturers in offering payment wearables to their consumers, we see the number of convinced investors as a further proof point of our business idea,” says Thorsten Röske, Co-Founder and CEO of wearonize AG.

The new partnerships with Curve Ltd, USA, and BrilliantTS, South Korea, which were concluded in autumn 2021, also contributed significantly to the investment success and further strengthen wearonize’s leading position on the global market: wearonize has Europe’s largest network of banks (currently 75 banking houses and card issuers, as of January 2022), is also active in the USA and Asia and implements wearable payment solutions in watches and the like for renowned producers such as Swatch AG, Switzerland.

“The fact that over 950 private investors have invested in our business model is a confirmation of our idea”.

In the first phase, which is open exclusively to the Angel Investors Club on Companisto, 20 angel investors (five of them commercial investors) took part. In the public round, more than 900 private investors took part in wearonize AG, along with other commercial investors such as foundations and family offices.

“For us, the fact that over 950 private investors believe in our business model and have invested is an incredible confirmation of our idea – but also a great responsibility that will guide us in our business decisions. This investment is our obligation to make prudent decisions regarding the further growth and expansion of our offer”, Thorsten Röske sums up.

With the investment, wearonize AG is on the one hand further expanding its product development and customer care team, and on the other hand further developing the wearonize marketplace for banks and producers – a necessary step for new, international partnerships, which are already being prepared for announcement.

About wearonize AG:
wearonize is changing the way people pay. Since its founding in 2019, the FinTech has positioned itself as the world’s leading fulfillment-as-a-service partner for banks and (fashion) accessories manufacturers looking to make payments wearable.
wearonize provides software, hardware and logistical services to help banks, manufacturers and event organizers enter the passive payment wearables market without having to invest significant time and financial resources themselves.

The wearonize team manages the entire process of analysis, development, testing, certification and distribution of passive wearables and payment technology (and other capabilities).

In 2020, wearonize became the sole software and services provider of SwatchPAY, and in 2022, wearonize partnered with BKLB to provide passive wearables at the Swiss Federal Wrestling Festival (ESAF 2022). Currently, wearonize is active in more than 25 countries and in cooperation with more than 75 banking institutions. The team around CEO Thorsten Röske currently comprises 17 members at the locations Lucerne, Switzerland, Munich, Germany and Cluj, Romania (as of May 2022).

 

Further information on wearonize: www.wearonize.com

Press contact:
THE MARIA AGENCY
Maria Pinzger & Marlies Hebler
+49-89-45 24 84 80
wearonize@the-maria-agency.com

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