Evorest receives seven-figure early financing
Thanks to private investors, financial services provider Evorest is able to close a seven-figure early-stage financing. Evorest is a start-up fintech specialising in the digital management of rental deposits.
The Zurich-based start-up Evorest has acquired a seven-figure sum in a so-called pre-seed financing, according to a media release. The company has set itself the goal of renewing the rental deposit market. For the first time, tenants will be able to digitally invest their rental deposits in low-cost funds.
This is intended to simplify the entire rental deposit management process for tenants and property managers. In the future, tenants will thus be able to sign their rental deposit contract digitally and invest their tied-up capital in exchange-traded index funds such as ETFs. They will benefit directly from the return achieved in the process.
In the future, it will also be possible to conclude a conventional deposit account completely digitally via Evorest. Thanks to digitalisation, deposit accounts can be opened within 24 hours. Property managers will receive a higher damage cover sum as security, in line with the market. Evorest works with an unnamed Swiss partner bank that manages the capital and guarantees the security of the deposit.
The financing now obtained is expected to be effective by the fourth quarter of 2023. With the acquired capital, the company, which was founded in March 2023, wants to implement its programme developments and activate the programme interface to its partner bank.