Today a new Swiss challenger bank, Alpian, has announced closing a successful Series A funding round worth €11.5 million. The funds will enable Alpian to accelerate its growth and pursue its ambitions to receive a full banking license from the Swiss Financial Market Supervisory Authority (FINMA), launching as a fully licensed digital affluent bank in 2021.
Fintech startup Alpian, founded in 2019, aims to create an innovative new banking offering, tailored to the mass affluent population (those with investable assets of between around €90K – 1 million) in Switzerland, worth an estimated €626 billion. Independent market research, which informed Alpian’s core business model, demonstrates how existing retail and private banking providers do not fully address the fundamental needs of this segment. Amongst the affluent demographic, the research found that 40% are looking for a new bank and 70% would be open to using a bank with no branches at all.
Alpian’s core offerings will include tailored investment boutique products, secure digital face-to-face access to experienced financial advisors, and simplified, transparent everyday banking services. Through a modernistic digital interface, Alpian will leverage proprietary and disruptive technology to develop scalable, personalised private banking.
Benefitting from REYL’s 40+ years of banking and wealth management experience, and a team of forward-thinking innovators at Alpian, the company aims to compete on an equal footing with other established banks.
Speaking about Alpian’s strategy Schuyler Weiss, Alpian CEO, 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.
“The genesis of Alpian comes from the clear vision of our experienced and well diversified team. This brings with it an ability to execute our vision, unimpeded. Securing the Series A funding is a testament to our business fundamentals and our ability to execute. Furthermore, it is a big step towards reaching full technological and operational readiness over the coming months.”
Speaking about the launch of Alpian, REYL partner Pasha Bakhtiar said: “Alpian started as an incubation project at REYL but we soon realised the full potential of this unique, ground-breaking value proposition. The fact that Alpian has secured such an impressive Series A round demonstrates the confidence investors also have in the blue ocean space we have identified. My Partners and I are immensely trusting in the quality of the Alpian team and we are excited to accompany them on the next stages of the journey.”
via https://www.AiUpNow.com/ by contact@bcurdy.com, Khareem Sudlow
