Switzerland’s first end to end digital company incorporation

Between 40,000 and 50,000 companies are founded in Switzerland every year. The companies required for this, which are usually still done in paper-based format, make founding a company time-consuming and tedious. In cooperation with DeepCloud and Yapeal, the start-up platform Hoop has succeeded in making incorporation process completely digital and thus in setting up companies quickly and easily. Company founders throughout Switzerland therefore benefit from this.

On 6 April 2023 at 9.30 a.m., Pascal Huber, Managing Director of the eastern Swiss trust company Breitenmoser-Edelmann Treuhand AG, started the digital meeting to found the start-up SpeedGo AG. He prepared the relevant documents on the digital foundation platform Hoop. All the founding documents were signed digitally by the founders of SpeedGo at their different workplaces. At 10.00 a.m., the money was deposited in the capital deposits account of the fintech Yapeal. By 10.15 a.m., all documents had been digitally signed by all parties and digitally transmitted to the notary for the incorporation. Three hours later, the notary started checking the documents and then signed them digitally himself. At 2 p.m., all documents required for the foundation of SpeedGo were again digitally transmitted to the commercial registry office. The entire incorporation process, which usually takes several weeks or even months in Switzerland, was completed in a record time of around six hours.

Six working days after the first meeting, the company SpeedGo was registered in the Zurich Registry of commerce. After opening a business account with Yapeal, the company is now fully operational and can receive and send invoices.

“I was surprised myself at how conveniently, easily and quickly the whole thing went through,” comments Pascal Huber, visibly pleased with the premiere. Silvio Enzler, COO of Hoop, adds: “We have launched a new era in company foundation, which is characterised by digitalisation, speed and simplicity”. Claudio Hintermann, CEO of DeepCloud, is pleased to say: “We are proud to make an important contribution to the simplification of start-ups. 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,” says Thomas Hilgendorff, CEO of Yapeal.

The Registry of commerce of the Canton of Zurich refers to the foundation and registration of SpeedGo SA, which was carried out digitally from A to Z in cooperation with Schmidhäusler Rechtsanwälte SA, as “a milestone on the way to fully digitalised document submission for the incorporation of a company”.

The Hoop platform is currently available as a beta version to 20 fiduciaries. In June of this year, it will be available to all interested entrepreneurs.
About Hoop

Hoop is a Swiss platform that fully digitalises the entire process of company incorporation and the mutations in the Registry of commerce. Hoop Corporate Services SA, based in Lugano, was launched in 2022.