Zurich’s GenTwo heading for success in London

We didn’t just receive active support: they literally took us by the hand.

Philippe A. Naegeli, Co-Founder and CEO, GenTwo

Fintechs often go global quickly. What exactly did this step look like at GenTwo? And what sparked it?

From the outset, our goal was for everyone – nationally and internationally – to be able to invest in what they believe in. As one of the world’s leading financial markets, Switzerland was the ideal starting point and a good test market for us. This is where we gained our first international customers, which we served directly via our Swiss platform.  

We quickly recognized which markets showed particular interest in our technology, and targeted them specifically. We pursue a clear follower strategy based on specific demand. Today, we serve customers in 27 countries – with exactly the same platform, the same technology, the same options everywhere.

In 2023, GenTwo took part in the Venture Leaders Roadshow in collaboration with the Swissnex team in London. What was on the agenda there?

The Venture Leaders Roadshow came at just the right time for us. On the one hand, the dialog with the other Venture Leaders was very valuable: you learn a lot from each other, and we’re still in touch with some of them today. 

On the other hand, we were offered a good mix of discussions with investors, local market players and tech companies. It was an opportunity to test our model on the ground and expand our network. This is also where we came into contact with the Swiss Business Hub UK, the branch office of Switzerland Global Enterprise. Looking back, the program was the perfect door opener for us. 

At first glance, there seems to be a contradiction between the formal world of Switzerland’s official bodies and the dynamism of a fintech. How did you find that? 

To be honest, I initially thought that the two would be strange bedfellows: you don’t expect a small fintech company to immediately attract the attention of Switzerland’s official bodies. But we were very positively surprised. We were able to speak to the Swissnex team and the Embassy’s Swiss Business Hub directly, who gave us honest answers, open discussions and tangible assistance. 

All the people we met there were very approachable. Even afterward, we remained in close dialog with the Swiss Business Hub UK. We were given real support, not just in an organizational sense, but also on a personal level.

How did GenTwo manage to celebrate its market entry in London with an event at the Swiss Embassy?

We wanted to mark our London launch with a visible, memorable event. That was no mean feat, because GenTwo was a nobody in London. The embassy was the perfect place and was imbued with the desired status – both on a symbolic and a very practical level. For us, this sent a strong signal: we’ve come from Switzerland, brought our solution to London and are unveiling it in a place that represents exactly this process of building bridges. That’s what gave our performance gravitas.

The Swiss Business Hub UK provided us with strong support – from planning through to implementation. We were able to invite guests from our network, along with contacts from the official environment. That worked really well. There were lots of people who showed interest and really wanted to get to grips with what we do. This is a rarity at financial conferences or similar events nowadays.

London marked an important step. Which other international markets are of relevance to GenTwo?

Switzerland is and will remain our base: we owe this country a great deal. But London is central to our international development. Especially in the financial sector, London is one of the most important locations in the world, with practically every relevant contracting party represented there. That’s why we decided to craft a presence there with an office and our own employees and further expand our work on the ground.

Besides that, the United States is a clear target for us. We already have customers there, and it’s currently our third-largest market. Singapore and the Middle East would also be exciting for us. But we need to stay focused: at present, we’re squarely looking to the west.

Lots of startups are faced with the challenge of going international at an early stage. What advice would you give to other companies that are planning to take this step?

Take the plunge as early as possible, that’s my advice. There’s no doubt that Switzerland is a good base, but if you want to grow internationally, you shouldn’t wait too long to do it.

In retrospect, we should have physically moved earlier – not only gained international clients, but also had a more local presence. Today it’s easier than ever. You don’t have to open an office right away, but you should have a presence on the markets, make contacts and gain experience.

There’s never a perfect time to go global. That’s why you shouldn’t look for it too long: just do it. Even if it’s a painful experience, as these are often the most valuable.

GenTwo’s successful launch in the UK is a great example of how Swiss innovation can resonate in one of the world’s most competitive financial markets. We were proud to support their journey all the way to a strong, visible presence in London. This success story highlights the value of close collaboration between startups and the official Swiss network abroad. We’re proud to help Swiss fintechs build lasting visibility and trusted relationships in the UK market and we look forward to continuing to support more Swiss fintechs as they scale in the UK. After all, when Swiss precision meets British opportunity, great things tend to happen – and GenTwo is proof of that!

Natalie Thomas, Head of Swiss Business Hub UK