Credit Suisse has joined a funding round for Assetmax, a Swiss startup that provides asset managers with an end-to-end software platform.
The investment was made through SVC Ltd, a vehicle used by Credit Suisse specifically to pump money into Swiss SMEs, which was last year given an extra CHF30 million specifically for fintech deals.
Founded in 2013, Zurich-headquartered Asetmax has developed a platform focused on four areas: compliance and regulation, portfolio management, front office and fees, and profitability.
With a team of just 24, it has already begun turning a profit, building up a client base of several dozen asset managers, with assets under management of CHF30 billion.
Having closed its first investment round - which saw Credit Suisse joined by Schwyzer Kantonalbank's innovation foundation and entrepreneur Paul E. Sevinç - the firm will use the money to build out its platform and increase client acquisition.
Didier Denat, chairman, SVC Ltd, says: "With its platform, Assetmax addresses the needs of many external asset managers and has done a convincing job of technically implementing the corresponding solution."