Alpian completes USD 18 million series B round

Alpian is pursuing a market segment of mass affluent clients comprising individuals with anywhere from CHF100,000 to 1,000,000 to invest. According to to the company, this segment is under-served by retail banks and they lack access to private banking services. In Switzerland alone, this audience represents a CHF660 billion opportunity.

Through a combination of machine intelligence and human advisors, Alpian aims to create a tailored portfolio for each client. This hybrid model, which combines state of the art banking and investing infrastructure with qualified wealth management advisors, will enable mass affluent clients to access a service normally reserved for clients of private banks. Besides the core private banking offering, each account will come with a debit card and multi-currency account in four currencies to facilitate everyday banking needs. 

Less than one year after completing the series A round, the company today announced the closing of USD 18 million Series B round. High networth individuals and family offices from Switzerland and abroad participated in the round. According to  Schuyler Weiss, CEO of Alpian, the funds will be used to launch to launch its core product and services range in Switzerland in the course of 2021. To this end the startup has applied for a full banking license to Switzerland’s Financial Market Supervisory Authority (FINMA).