Alpian secures $18 million in Series B funding round
By Megha Bhattacharya
Digital financial services company Alpian SA has announced a Series B funding worth $18 million. The latest funding round is expected to allow the company to boost the development of its digital offering customised for the mass affluent population and individuals with investible assets between CHF100,000 and 1,000,000.
Schuyler Weiss, Alpian’s CEO, said, “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.”
According to Alpian, the offering aims to create tailored investment portfolios aligned to personal preferences aimed at delivering better experiences to each client based on their concept of wealth.
Pasha Bakhtiar, Alpian board member and partner at REYL, said, “This exceptional milestone is a strong testament to the talent and execution capabilities of the Alpian management team and the innovative mindset championed by Reyl & Cie. 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.”
Recently, Temenos announced that Alpian SA has selected its Temenos Transact, core banking and Temenos Payments delivered as SaaS for enhancing its digital private banking and wealth management services in Switzerland. According to Temenos, the SaaS technology will enable Alpian to launch its new bank and banking services focused on the mass affluent (those with investible assets of between CHF 100k – 1 million).
Alpian, with Temenos‘ technology, aims to offer stability, security and personal care of Swiss private banking to a wider spectrum of clients through an open and responsive state-of-the-art digital platform. Temenos Payments aims to reduce time to market for the digital bank’s payment services and allow it to offer secure traditional and instant payments compliant with the latest IS20022 and PSD2 regulations. The collaboration will allow the bank’s customers to access and manage their money via a single multi-currency bank account for Swiss Francs and Euros.
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