Swiss cloud firm turns to crowdfunding model

Zurich-based firm looking to expand as it issues shares to public using C-Crowd platform

Swiss Cloud Computing AG is launching a crowdfunding process to generate its next round of funding after posting stellar growth in the first half of this year.

The Zurich-based firm raised a total of 250,000 Swiss francs (€229,693) two years ago via a series of small investments from numerous parties. The company is now issuing further shares worth "several hundred thousand francs" to public shareholders, using the C-Crowd platform.

The search for further capital comes after Swiss Cloud Computing grew sales threefold year on year in the first half of 2016, the firm claims, as it boosted headcount to a total of 14 people and grew its customer roster to 1,500 customers. The company added that the increase in clients providing recurring revenue streams will give it a solid platform for future growth. The plan is to swell turnover to 15 million Swiss francs by 2020.

In a statement translated from the original German, CEO Dazu Vito Critti said: "Our business is growing every month in the double-digit percentage. We want to use this momentum, and we're thrilled when we can make valuable investments in the future with the additional capital."

Vito Critti founded Swiss Cloud Computing with Sascha Carroccio in 2013. The firm offers a range of infrastructure- and desktop-as-a-service offerings, and runs various datacentres across Switzerland.