Swiss Post, a state-owned mail delivery company that has become a private limited company, has played a major role in its role as Switzerland’s national postal service in logistics, finance, transport, and more (including doubling the supply of drones). Territ, one of the leading European pioneers of edge-to-end-encrypted cloud services in Swiss-Hungarian startups. The terms of the acquisition are not being disclosed. However, the revenue of Swiss Post has been declining in recent years, (snail mail) the amount of the letter continues to decline. 2019 miscellaneous has warned his business of the need to find new sources of income.
Treasury, meanwhile, was raised in late 2018 – when it announced an €11.5 million Series B round with investors, including 3TS Capital Partners and Portfolio. Other supporters of the startup include business angels and serial entrepreneurs such as Márton Szőke, Balij Phages, and Andres Kemi. According to Crunchbass, Tresrit collected less than $18 million compared to his decade + run.
This additional store looks like a measure of data protection that an experienced “domestic” brand like Swiss Post sees in strategic value in expanding the suite of digital services with the help of a trusted startup in the E2 encryption space. “Zero access” encryption dates back to a decade ago, but Treasury went a decade ago, but it has become the gold standard for reliable data protection, with a variety of players now offering e-encrypted services – to businesses and customers.
Announcing the acquisition in a press release today, the pair said they would “work together to further enhance privacy-friendly and secure digital services that enable people and businesses to easily exchange information while keeping their data safe and private.” Treasury Hall will remain as a separate entity within the Swiss Post Group and will continue to serve the current management (founders), target regions of the European Union and the United States worldwide, with the brand and service remaining unchanged.
The 2011-founded startup brands itself as a “highly secure” cloud service that sells – such as storage, file syncing, and collaboration – to business targets (it has 10,000+ customers worldwide); All technical architectures have been zipped with the promise of “Zero Access” which means that Treasurer cannot literally decrypt customer data because it does not hold encryption keys.