Incorporated in October 2019, Alpian is a Swiss digital financial services startup aimed at mass affluent investors. The fintech has raised $18M (nearly €15.1M) in its Series B funding round. This round follows the CHF12.2M (approx €11.1M) Series A round that the company raised in 2020.
Applied for a full banking license
Alpian was incubated by the private bank REYL & Cie. It has applied for a full banking license to Switzerland’s Financial Market Supervisory Authority (FINMA) and intends to launch its core product and services range in the course of 2021, subject to the issuance of a full banking licence by FINMA.
According to the company, the latest funding will allow Alpian to finalise the development of its digital offering tailored for the mass affluent population, individuals with investible assets between CHF100,000 and 1,000,000. It will also ensure that all operations are in place to achieve a successful launch, subject to regulatory approval.
“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, subject to the issuance of a full banking licence by FINMA,” says Schuyler Weiss, Alpian’s CEO.
Alpian claims its offering combines technology with investment advisors to create tailored investment portfolios aligned to personal preferences.
Last year, in December, Temenos, the banking software company, announced that Alpian has selected Temenos Transact, core banking and Temenos Payments delivered as SaaS to power digital private banking and wealth management services in Switzerland.
According to Temenos, its SaaS technology will enable Alpian to rapidly launch its new bank and deliver innovative banking services, tailored to the “mass affluent”.
A bit about REYL Group
Founded in 1973, the REYL Group is an independent diversified banking group with offices in Geneva, Zurich, Lugano, London, Luxembourg, Malta, Singapore, and Dubai. It manages assets in excess of CHF13.5B (nearly €12.2B) and employs more than 220 professionals.
“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,” says Pasha Bakhtiar, Alpian board member and partner at REYL.