Selma Finance is a fintech startup built around an AI-supported digital asset management service branded Selma AI. The company says it is already profitable and does not need additional capital for day-to-day operations. It recently launched a crowdinvesting campaign that raised more than €1.3 million from 325 backers in under two days, having surpassed an initial €750,000 target and now aiming for €1.5 million. Selma intends to use the fresh funds to further develop its algorithms to deliver more precise, personalized financial solutions. The startup also plans to expand its advisory offerings into retirement planning, insurance needs, mortgages, and tax questions. Selma was founded in 2017 by a team from Switzerland, Austria and Finland and counts TX Ventures (TX Group) and Migros Group among its investors. Selma Finance is a Swiss‑Finnish fintech digital adviser focused on delivering individual financial and retirement planning advice. The company’s mission is to make financial advice accessible and suitable for customers of any age. Over the past 18 months Selma has tripled its customer base to more than 10,000 clients and the team has more than doubled. Customers invest sums ranging from CHF2,000 up to seven-figure amounts. The startup will use newly raised funds to localize its services in the French-speaking (West) Switzerland and to further develop its product offering. Investors have pointed to the company’s growth and user traction as validation of its accessible, friendly advisory approach. Selma Finance operates a Smart‑Advisor that offers tailored investment options through a simple user interface and a single monthly fee that covers management of Säule‑3a accounts and other investments. The company has offices in Zürich and Helsinki and is regulated as an independent asset manager in Switzerland. Selma employs 12 people and reports over 4,000 paying customers in Switzerland. The fresh capital will be used to expand its digital advisory capabilities, drive further growth, and launch additional products in the Swiss market. Selma emphasizes accessibility and lower costs for professional investment and retirement solutions for its customers. A partnership with Migros Bank is planned to jointly develop and test digital wealth‑management services and distribution channels.

Total raised

$13M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2024