Switzerland's first end-to-end digital company startup
In Switzerland, between 40,000 and 50,000 companies are founded every year. The signatures required for this, which are usually still done in analog form, make founding a company time-consuming and tedious. In collaboration with DeepCloud and Yapeal, the Hoop startup platform has succeeded in making the startup process completely digital and thus in founding companies quickly and easily. This benefits company founders throughout Switzerland.
On April 6, 2023 at 9:30 a.m., Pascal Huber, Managing Director of the eastern Swiss trust company Breitenmoser-Edelmann Treuhand AG, started the digital meeting for the foundation of the startup SpeedGo AG. He prepared the relevant documents on the digital foundation platform Hoop. All founding documents were signed digitally by the founders of SpeedGo at their different workstations. At 10:00 a.m., the money was deposited in the capital formation account of the fintech Yapeal. By 10:15 a.m., all documents had already been digitally signed by all parties and digitally transmitted to the notary for incorporation. Three hours later, the notary started checking the documents and subsequently signed them digitally himself. At 2:00 p.m., all documents required for the foundation of SpeedGo were again digitally transmitted to the commercial registry office.
Digital company formation in six hours
The entire incorporation process, which usually takes several weeks to months in Switzerland, was completed in a record time of around six hours. Six working days after the first meeting, SpeedGo was registered with the Zurich Commercial Register. After opening a business account with Yapeal, the company is now fully operational and can receive and send invoices.
"I was surprised myself how conveniently, easily and quickly the whole thing went through," comments Pascal Huber on the premiere. Silvio Enzler, COO of Hoop adds: "We have ushered in a new era in company start-ups, which is characterized by digitalization, speed and simplicity". Claudio Hintermann, CEO of DeepCloud is pleased: "We are proud to make an important contribution to the simplification of company formations. Without DeepID and DeepSign technologies, such a fast and end-to-end process would not have been possible." Yapeal is also proud to be part of Switzerland's first end-to-end digital company formation. "Our real-time services enabled the immediate opening of the capital deposit account," said Thomas Hilgendorff, CEO of Yapeal.
Definitely available for all from June 2023
The Commercial Registry Office of the Canton of Zurich refers to the establishment and registration of SpeedGo AG, which was carried out digitally from A to Z, in cooperation with Schmidhäusler Rechtsanwälte AG, as "a milestone on the way to fully digitalized document submission for the establishment of a company".
The Hoop platform is currently available as a beta version to 20 trustees. In June of this year, it will be available to all interested entrepreneurs.
Source: Hoop Corporate Services SA
