Digital financial services company Alpian has secured CHF12.2m (£10.1m, $12.5, €11.6m) during series A funding round, which will help the firm accelerate its plans to pursue a full banking licence from the Swiss Financial Market Supervisory Authority (Finma).
The firm, which was incubated by Swiss banking group Reyl & Cie, plans to launch as a digital affluent bank in 2021.
Alpian will cater for the mass affluent population, those with investible assets of between CHF100,000-1m, in Switzerland.
The market is worth an estimated CHF660bn.
Offering
It will offer investment boutique products, digital face-to-face access to financial advisers, and everyday banking services.
The firm will use the expertise of Reyl with its over 40 years of banking and wealth management experience.
Schuyler Weiss, Alpian chief executive, said: “With Alpian, we will introduce a new way for affluent clients to bank that is attuned to how they want to manage their wealth.
“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.”
