Alpian secures CHF 12.2m Series A funding to tap into CHF 660bn private banking opportunity
6 May 2020: New digital financial services company, Alpian SA (“Alpian”), incubated by the Swiss banking group REYL & Cie Ltd (“REYL”), today announces a successful Series A funding round worth CHF 12.2 million. The funds will enable Alpian to accelerate its growth plans and pursue its 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 new banking offering, tailored to the mass affluent population (those with investible assets of between CHF 100k – 1 million) in Switzerland, worth an estimated CHF 660 billion. Independent market research, which informed Alpian’s core business model, demonstrates how existing retail and private banking providers do not fully address the fundamental needs of this segment. Amongst the affluent demographic, the research found that 40% are looking for a new bank and 70% would be open to using a bank with no branches at all.
Alpian’s core offerings will include tailored investment boutique products, secure digital face-to-face access to experienced financial advisors, and simplified, transparent 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, and a team of forward-thinking innovators at Alpian, the company aims to compete on an equal footing with other established banks.
Speaking on Alpian’s strategy Schuyler Weiss, Alpian CEO, said:
“With Alpian, we will introduce a new way for affluent clients to bank that is attuned to how they want to manage their wealth. Our approach is client-centric first and foremost, with technology and innovation underpinning everything we do. As we develop our technology, we will be able to scale operations swiftly while maintaining the exceptional service standards set for each and every client interaction.”
“The genesis of Alpian comes from the clear vision of our experienced and well diversified team. This brings with it an ability to execute our vision, unimpeded. Securing the Series A funding is a testament to our business fundamentals and our ability to execute. Furthermore, it is a big step towards reaching full technological and operational readiness over the coming months.”
Speaking on the launch of Alpian, 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 such an 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.”
Notes to editors
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Based in Carouge, Switzerland, Alpian is a new digital financial services brand, incorporated in October 2019. Originally incubated by REYL, Alpian aims to be the first bank to provide the stability, security and personal care of a traditional Swiss private bank to a wider spectrum of clients through the accessibility and responsiveness of a state-of-the-art digital interface. Alpian raised CHF 12.2 million Series A funding and has recently applied for a full banking license from Swiss regulator, FINMA. The aim is to launch to market in 2021. The Alpian strategy is governed by its own management team, with the goal of becoming the only mobile-first digital bank that offers banking and private banking services in the Swiss market. These services will be aimed at the mass affluent client segment and will include tailored investment products for clients, informed by the team’s knowledge and digital face-to-face access to experienced financial advisors.
About the REYL Group
Founded in 1973, the REYL Group is an independent diversified banking group with offices in Switzerland (Geneva, Zurich, Lugano), Europe (London, Luxembourg, Malta) and the rest of the world (Singapore, Dubai). The REYL Group manages assets in excess of CHF 13.5 billion and employs more than 220 professionals.
Developing an innovative approach to banking, the Group serves a clientele of international entrepreneurs and institutional investors through its Wealth Management, Entrepreneur & Family Office Services, Corporate Advisory & Structuring, Asset Services and Asset Management business lines.
REYL & Cie Ltd is licensed as a bank in Switzerland and performs its activities under the direct control of the independent Swiss Financial Market regulator (FINMA) and the Swiss National Bank (SNB). The REYL Group’s subsidiaries are also regulated by the LPCC in Switzerland, the FCA in the UK, the CSSF in Luxembourg, the MFSA in Malta, the MAS in Singapore, the DFSA in Dubai and the SEC in the United States.