Swiss banking app Alpian raises CHF12.2m in series A round
Digital financial services company Alpian, incubated by the Swiss banking group REYL & Cie, has completed a Series A funding round worth CHF12.2 million.
The funding will accelerate Alpian’s plans to secure a full banking license from the Swiss Financial Market Supervisory Authority and launch as a fully licensed bank in 2021.
Alpian aims to create a new banking offering, tailored to the mass affluent population – those with investable assets of between CHF100k-CHF1 million – in Switzerland, worth an estimated CHF660 billion.
Amongst the affluent demographic, the research found that 40 percent are looking for a new bank and 70 percent would be open to using a bank with no branches at all according to independent market research, said Alpian.
Alpian’s offering will include tailored investment boutique products, secure digital face-to-face access to experienced financial advisors, and simplified, transparent everyday banking services. Through a digital interface, Alpian will leverage proprietary and disruptive tech to develop scalable, personalised private banking.
“With Alpian, we will introduce a new way for affluent clients to bank that is attuned to how they want to manage their wealth,” said Schuyler Weiss, Alpian CEO, speaking on Alpian’s strategy.
“Our approach is client-centric first and foremost, with technology and innovation underpinning everything we do. As we develop our technology, we will be able to scale operations swiftly while maintaining the exceptional service standards set for each and every client interaction,” he added.