The new digital financial services company Alpian SA (“Alpian”), incubated by the Swiss banking group REYL & Cie Ltd (“REYL”), today announced a successful Series B funding worth around USD18 million (CHF16.9 million). The fundraising follows the Series A round in 2020 in which CHF12.2 million was raised.
According to Alpian CEO Schuyler Weiss:
“Alpian takes a structured and careful approach to building and launching the bank. 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. This approach ensures that Alpian will be in a strong position to provide the best service to customers later this year subject to the issuance of a full banking licence by FINMA.”
With its integrated offering of both banking and investing inside a single convenient product experience,
Alpian is pursuing a market segment of mass affluent clients; individuals with anywhere from CHF100,000 to 1,000,000 to invest. According to research undertaken by Alpian, mass affluent clients are typically under-served by retail banks and lack access to private banking services. In Switzerland alone, the seg-ment of potential mass affluent investors represents a CHF660 billion opportunity.