Light Frame, a Swiss-American FinTech company founded by former Swiss banking and technology executives, announced the closing of an oversubscribed pre-seed round, raising $1.7 million. The capital will allow the startup to ramp up its product development team and further engage potential clients as it prepares for the launch in 2025.
Based in Lausanne and Providence, RI (USA), Light Frame is developing a Swiss made, proprietary technology platform to deliver unprecedented levels of autonomy, capability, and intelligence within the operations of Swiss Private Banks. Together, these elements will help banks as they look to reduce costs and create new revenue opportunities. Negotiations with potential customers in Switzerland are currently ongoing. The company was established in January 2024 by Schuyler Weiss, the founder and former CEO of the Swiss bank Alpian, Mathieu Clement, the former COO and CIO of Alpian, and leading technologists Philippe Kernevez and Gregory Bataille.
Light Frame’s Pre-Seed round of $1.7 million is co-led by ATX Venture Partners and New Stack Ventures. Light Frame’s investors also include the Swiss investment group StudioAlpha, Rogue Venture Partners, Half Court Ventures, and Underdog Labs. This funding round marks a significant milestone in the company's journey, providing the necessary resources to accelerate its innovation and growth.
"Modern technology represents the single biggest opportunity for banks to both materially expand their revenues and optimize their costs," said Schuyler Weiss, CEO of Light Frame, who while working at Alpian saw and felt firsthand the sizeable gap between modern technologies and those that are available to banks. "This funding will enable us to further engage with the Private Banks looking to seize this opportunity, and it will facilitate the launch of our product within the Swiss market in 2025“, he adds.
The company’s development team in Switzerland is already operative, working on their Wealth technology to drive the financial services industry forward, as Stefan Arn, Partner at StudioAlpha and former CIO of UBS acknowledged. "The company is currently focused on exclusively serving the Swiss market. Therefore, all operations are completed out of Switzerland. Every line of code has been built in Switzerland, and partnership discussions are taking place solely with Swiss banks", explains Schuyler Weiss. Overall, the Light Frame has a team of four employees in Switzerland and one serving the company between Switzerland and the US.
By its nature, the company is international. Incorporation in Switzerland is currently underway, with both locations serving as the startup’s primary locations.
(Press release/RAN)
0Comments
More news about
The new Swiss Venture Capital Report was published on 26 January. It analyses 304 financing rounds closed in 2020 and includes further article such as an interview with Michael Hengartner, President of the ETH Board, and a list of Swiss "soonicorns". 
Please login or sign up to comment.
Commenting guidelines