Avaloq, a Zurich-based pioneer in wealth management technology, participated in this fundraising round and also bought a minority position in Kaspar&.

Established in 2020 as a spin-off from the Zurich Federal Institute of Technology (ETH) and the University of St. Gallen (HSG), Kaspar& provides low-cost investing software, payment services, and bank account access. One of the company's creative investing alternatives is a save-as-you-spend option that rounds up credit card purchases and invests the difference in exchange-traded funds (ETFs) and index funds. This gives Swiss customers an easy way to start building their money.

The Kaspar& investing app will be enhanced with the additional funds, and it will be integrated with the Avaloq Core Platform. Banks in Switzerland who use the Avaloq platform will be able to provide their customers with more easily accessible investment options thanks to this collaboration.

"We are proud of our track record in innovation and our strong ecosystem of fintech partners," stated Avaloq CEO Martin Greweldinger. We believe that Kaspar& has the ability to transform investing in the Swiss retail industry, which is why we have invested in the firm.

"Kaspa & offers investors low-cost, automatic investment options, and anybody can start investing with ease because to the app's user-friendly UI. We will assist Kaspar& in its expansion path by completely integrating the app with our core banking system. Additionally, this will allow financial institutions operating in Switzerland on the Avaloq platform to provide their clients with access to this cutting-edge investing platform.

Avaloq led the funding round, in which institutional investors, business angels, and Basellandschaftliche Kantonalbank (BLKB) were among the other minority investors. This investment is an essential milestone in Kaspar&'s growth.

"A new chapter in our company's history begins with our strategic partnership with Avaloq," stated Jan-Philip Schade, co-founder and chief executive officer of Kaspar&. In addition to allowing us to maintain Kaspar&'s development trajectory, our most recent investment by a significant stakeholder in the Swiss financial industry validates the potential of our platform.

"I think a big aspect of improving cooperation between banks and fintech partners will be the Kaspar& app's connection with Switzerland's top core banking system. Over time, we hope to strengthen our relationship with Avaloq and assist Swiss financial institutions in providing a wider selection of investment solutions to its retail and mass-affluent clientele.