Alpian announced closing CHF 19 million Series B+ financing backed by Reyl Intesa Sanpaolo

Alpian SA, a Geneva, Switzerland-based provider of digital financial services, announced Series B+ equity funding for adding CHF 19 million ($20.5 million) to its balance sheet.

The money was raised from Intesa Sanpaolo Group via its Swiss bank REYL Group and Fideuram, a private banking player in Italy which controls all Intesa Sanpaolo Group's private banking activities.

At the same time, the company announced securing a Finma banking license, which will enter into force upon the completion of certain formal conditions, and supporting the company's aim to introduce private banking services and investment expertise to the Swiss affluent. This would make Alpian Switzerland’s first-ever digital private bank.

Alpian, founded in 2019 by CEO Schuyler Weiss, developed a mobile app that provides access to a combination of private banking and wealth management services with everyday banking to serve mass affluent investors. Alpian integrates both banking and investing inside a single convenient product experience, targeting a market segment of mass affluent clients; individuals with anywhere from CHF100,000 to 1,000,000 to invest.

Besides the core private banking offering, each account comes with a debit card and multi-currency account in four currencies to facilitate everyday banking needs.

Alpian previously raised $18 million in 2021 and CHF12.2M ($12.6M) in 2020.