Alpian secures USD18m Series B Funding
The new digital financial services company Alpian SA (Alpian), incubated by the Swiss banking group REYL & Cie Ltd (REYL), has announced a successful Series B funding worth around USD18 million (CHF16.9 million). The fundraising follows the Series A round in 2020 in which CHF12.2 million was raised.
With its integrated offering of both banking and investing inside a single convenient product experience, Alpian is pursuing a market segment of mass affluent clients; individuals with anywhere from CHF100,000 to 1,000,000 to invest. According to research undertaken by Alpian, mass affluent clients are typically under-served by retail banks and lack access to private banking services. In Switzerland alone, the segment of potential mass affluent investors represents a CHF660 billion opportunity.
Through a combination of machine intelligence and human advisors, Alpian aims to create for each client a unique portfolio that is aligned to their personal preferences, beliefs, philosophies and goals. This hybrid model, which combines state of the art banking and investing infrastructure with qualified wealth management advisors, will enable mass affluent clients to access a service normally reserved for clients of private banks. Besides the core private banking offering, each account will come with a debit card and multi-currency account in four currencies to facilitate everyday banking needs. Alpian is also investing in the creation of educational content on financial matters through its recently launched i-vest platform.
According to Alpian CEO Schuyler Weiss: “Alpian takes a structured and careful approach to building and launching the bank. While the Series A fundraising was conducted to build the digital bank, the Series B fundraising is intended to be principally used to launch the bank in the Swiss market. This approach ensures that Alpian will be in a strong position to provide the best service to customers later this year subject to the issuance of a full banking licence by FINMA.”
REYL partner Pasha Bakhtiar says: “This exceptional milestone is a strong testament to the talent and execution capabilities of the Alpian management team and the innovative mindset championed by Reyl & Cie. We are particularly proud that this incubated idea has flourished into a blooming company and has attracted broad investor interest as well as support from our strategic partner ISP-Fideuram. We look forward to continuing along this path as Alpian seeks to obtain the necessary regulatory approvals to go-live later this year.”