Neon has already more than 30,000 clients in Switzerland and has now received more money to invest in its business. The digital bank concluded a private placement that was worth more than 5 million Swiss francs ($5.5 million), according to a statement released on Wednesday.

Neon will use the money from the placement to invest in its range of products and to generate further growth of its business.

Existing investors included Backbone Ventures, TX Group, Schwyzer Kantonalbank as well as private investors Roland Brack and Bettina Hein. Neon has already attracted interest and capital from Helvetia’s venture fund and QoQa Services, a Swiss e-commerce-platform.