New digital financial services company, Alpian, incubated by REYL & Cie, has closed a Series A funding round worth CHF 12.2 million. The funds will enable Alpian to accelerate growth plans and pursue 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 banking offering, tailored to the mass affluent population (with investible assets between CHF 100k – 1 million) in Switzerland, worth an estimated CHF 660 billion. Independent market research demonstrates how existing retail and private banking providers do not fully address the fundamental needs of this segment. Amongst this demographic, 40% are looking for a new bank and 70% would be open to using a bank with no branches at all.
Alpian's offering will include tailored investment boutique products, digital face-to-face access to experienced financial advisors, and 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 40+ years of banking and wealth management experience, the company aims to compete on an equal footing with other established banks.
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 this 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."
(Press release / SK)
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