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Swiss digital private bank startup Alpian scores license and funding

Swiss digital private bank startup Alpian scores license and funding

Alpian, a digital-first private bank aimed at Switzerland's mass affluent market, is set to launch later this year, after securing a license and CHF19 million in Series B+ funding.

Alpian, incubated by Swiss banking group Reyl Intesa Sanpaolo, has obtained its Finma banking license, paving the way for it to launch its alpha release to internal employees before a full public launch in the third quarter.

The startup is targeting a sizeable demographic in Switzerland - those with investible assets of between CHF100,000 and CHF1 million.

It is planning to entice these mass affluent clients by using a combination of machine intelligence and human advisors to create unique portfolios that are aligned to personal "preferences, beliefs, philosophies and goals".

Besides the core private banking offering, each account will come with a debit card and multi-currency account. Alpian is also investing in the creation of educational content on financial matters through its i-vest platform.

The latest funding comes from Reyl Intesa Sanpaolo majority owner, Fideuram - Intesa Sanpaolo Private Banking.

Schuyler Weiss, CEO, Alpian, says: "With the funds raised during the Series B+ and with its new standing as a licensed Swiss bank, Alpian is well equipped to launch its offering and to start the process of earning the trust of each and every one of its future clients."

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