Alpian, Switzerland’s first mass-market digital private bank, has raised US $ 18 million in its Series B funding round
This startup is targeting a sizeable demographic in Switzerland – those with investable assets of between CHF100,000 and CHF1 million.
The company plans to persuade these mass wealthy clients by using a combination of machine intelligence and human advisors to create a unique portfolio aligned with personal “preferences, beliefs, philosophies and goals.”
In addition to the core personal banking offering, each account will come with a debit card and a multi-currency account. Alpian also invests in the creation of educational content on financial matters through its recently launched i-vest platform.
Schuyler Weiss, CEO, Alpian, said: “While the Series A fundraiser was aimed at building a digital bank, the Series B fundraising was intended to be used in principle to launch the bank on the Swiss market.
“This approach ensures that Alpian will be in a strong position to provide the best possible service to its customers by the end of this year subject to the issuance of a full banking license by Finma.”