Digital fin services company Alpian announces successful Series A funding round of CHF12.2m
Alpian plans to launch as a fully licensed bank in 2021.
Alpian SA, incubated by the Swiss banking group REYL & Cie Ltd, today announces a successful Series A funding round worth CHF 12.2 million.
The funds are set to enable Alpian to accelerate its growth plans 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.
Alpian aims to create an innovative new banking offering, tailored to the mass affluent population (those with investible assets of between CHF 100k – 1 million) in Switzerland, worth an estimated CHF 660 billion. The company notes that independent market research 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.
Benefiting from REYL’s vast experience in banking and wealth management, and a team of forward-thinking innovators at Alpian, the company aims to compete on an equal footing with other established banks.
Speaking on Alpian’s strategy Schuyler Weiss, Alpian CEO, said:
“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 on 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.”