Latest News in the Swiss Fintech Industry: Alpian, Moneypark and Gentwo

The wind is blowing in all directions in the Swiss fintech industry – an overview of sometimes surprising gusts.

Read more about the latest events in the fintech industry and find other interesting business news with the Born2Invest mobile app.

Alpian CEO Schuyler Weiss resigns in a surprise move

The co-founder and CEO of neo-bank Alpian, Schuyler Weiss, is not simply stepping down, he has already resigned from his position, the digital private bank announced. The stated reason: Weiss will be moving to public service in the United States.

The abrupt departure from the Swiss fintech industry is unexpected, also the new professional destination of the CEO is surprising. Alpian launched last October after a lengthy preparation period, MoneyToday.ch reported, here. Weiss was convinced that the mass of poorly served or dissatisfied affluent customers willing to switch would be large enough to secure the neo-bank a good position in the Swiss banking scene in the medium term.

Now things are different – or at least without the formative leading figure, who designed, shaped, and pushed Neo-Bank into the market for almost five years equipped with a Swiss banking license.

Swiss Fintech Industry: Ailing Moneypark to be integrated into Helvetia

The joint announcement by Helvetia and its Hypo brokerage subsidiary Moneypark reads extremely positively. There is talk of bundled sales power and a significant expansion of the leading position in the fintech industry – but the bad news comes after the headline. Helvetia’s investment in Moneypark, which cost over CHF 100 million seven years ago, does not seem to be paying off.

The Hypo intermediary Moneypark, which has operated expansively in recent years, has apparently run out of steam in the environment of rising interest rates, and the company is in distress. Moneypark will now be fully integrated into Helvetia, costs of between 6 and 8 million francs are to be saved, which will probably lead to a reduction of 25 to 30 jobs. The two end customer platforms Helvetia Immoworld and Moneypark will be merged. Helvetia will write down around 27 million francs on its stake in Moneypark.

Helvetia will take over the helm and integrate the existing Moneypark sales network into Helvetia’s sales force; only the Moneypark brand will remain. Only time will tell whether the synergy effects can lead to new significant growth.

Gentwo finances itself with $15 million

The Swiss fintech company Gentwo receives $15 million from the US investor Point72 Ventures within a Series A financing. The B2B fintech platform specializes in the securitization of bankable and non-bankable assets. Pete Casella, Senior Partner and Co-Head of Fintech Investments at Point72 Ventures joins Gentwo’s Board of Directors.

Gentwo was founded in Zurich in 2018 and has since built an innovative financial engineering network based on a proprietary platform. This enables investment professionals to quickly and easily securitize any asset or investment strategy in the form of bankable security and bring it to market.

Through Gentwo, investors gain access to alternative and non-bankable assets such as real estate, art, or digital assets – a global market estimated to be worth over $78 trillion. The company’s products meet the growing need of asset managers and their clients for innovative financial products that offer new opportunities for diversification and active portfolio management.

To date, Gentwo says it has launched more than 1,200 investment products for more than 250 clients in 26 countries and currently reports more than $3 billion in assets under service.

The fintech company intends to use the fresh capital for further international expansion as well as for the further development of the company’s financial engineering platform.

__

(Featured image by AbsolutVision via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in MoneyToday.ch. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.