Zurich, Switzerland
SONECT, founded in 2016 and headquartered in Switzerland, operates at the intersection of Finance, Fintech, and Mobile Payments. The company's value proposition centers on transforming every retail outlet into a "virtual ATM," offering cost-reduction solutions for banks while simplifying cash management for merchants through a location-based, on-demand service.
SONECT's platform enables users to withdraw cash via a smartphone from any partnering shop, creating communities around local businesses. This innovative approach potentially reduces banks' ATM operation costs by up to 50% and aids their expansion into untapped regions, bolstering financial inclusion without heavy capital expenditures.
The company attracted a Fr.5.00M Series A investment on October 22, 2021, led by Italian Angels for Growth. With a team of domain experts and a focus on enabling, companionship, and community, SONECT exemplifies the convergence of the sharing economy and the financial ecosystem.
