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Achiko and Sonect sign a Letter of Intent to cooperate and further accelerate their joint efforts to deliver state-of-the art payment solutions to the Swiss market
Zurich, 1 April 2020 – Achiko is proud to announce a partnership with Sonect, a leading provider of consumer payment solutions in Switzerland. This follows the recent announcement of newly SIX listed FinTech company Achiko’s cooperation with Hypothekarbank Lenzburg. Achiko Ltd. and Zurichbased cash management platform Sonect announce plans to enter into a partnership to leverage their respective services in Switzerland and beyond.
Sonect, an award-winning innovator in the ongoing digitalization of finance, and Achiko, one of Asia’s leading payment platforms, will connect their respective technologies to provide innovative and forward-looking payment solutions to the Swiss market. This initial milestone will allow Achiko’s endusers to withdraw cash at more than 2300 Sonect shops in Switzerland. Further integration will allow Achiko to target close-knit communities outside Switzerland with a comprehensive range of specific financial services. Those services will be connected to the cash world, through Sonect’s extensive network, ultimately setting a new benchmark in terms of functionality and consumer engagement.
Sandipan Chakraborty, Chief Executive Officer and Founder of Sonect, commented: “This exciting partnership represents first an important opportunity for Sonect in Switzerland, paving the way for broader exposure of our brand and further adoption of our services in our domestic market, ahead of our expansion abroad. Looking then at Achiko’s pipeline, and the impending launch of brand new functionalities, there is also a strategic dimension to this cooperation that goes beyond its mere commercial initial aspects. This cooperation will lead to further value for our respective customers over the next few months attached to the rapid expansion of Achiko in Switzerland and beyond.”
“We are excited with the partnership between Achiko and Sonect”, says Christopher Young, Chief Operating Officer of Achiko Ltd. “This represents a significant step for Achiko as it allows us to strengthen our presence in Switzerland and makes way for expansion on a global scale. Our cooperation with Sonect will help us create the most compelling digital local communities, empowering their members to connect and engage, through the use of tailor-made digital financial services.”
Sonect, a Zurich-based fintech start-up, was founded in 2016 and employs 25 people in Zurich, Vilnius and Mexico City. The start-up provides a platform that makes financial services easily accessible from anywhere. Through Sonect, every cash register becomes an ATM, and thanks to the Sonect app, cash withdrawals are simpler, faster and more cost-efficient. With over 2300 Sonect shops, Sonect already operates the largest ATM network in Switzerland.
For further information visit sonect.net.
Achiko is a platform company. The company’s platform focuses on three key verticals, which enable people to pay, offer unique things to do, and provide a place to be. It does this through an extensible wallet platform, marketed directly to consumers and through enterprises. As an extensible platform, the company can seamlessly integrate unique things to do including apps, e-commerce, consumer credit, savings, etc.
The company has an experienced management team which has a track record building internationally recognised digital businesses and has also implemented them for companies like Disney, TimeWarner (now WarnerMedia), Samsung, Kakao, Leon Entertainment and many others with offices in Switzerland, Singapore, Indonesia, and South Korea.
Achiko has significant shareholders such as MNC Group, the largest media company in Southeast Asia. Its shareholder base also includes MOX, China’s largest venture capital company focussing exclusively on the mobile sector and one of the three largest global VC companies in this field.
Further information can be found on www.achiko.co.
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This communication expressly or implicitly contains certain forward-looking statements concerning Achiko Ltd. and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.