blufolio a blockchain VC fund recently announced its first investment into Zurich Based YAPEAL. The sum of the investment was not disclosed.
Yapeal is an upcoming neo-bank in Switzerland that aims to redefine banking. The YapApp would be based on blockchain-inspired technology, and some features include a fully-digital onboarding process, AI to figure out one’s lifestyle and habits, a digital budget advisor called the Financial Amigo, among others.
It is listed among our selection of the top 19 Swiss Fintech Startups to Watch in 2019.
“We are delighted to support the growth of YAPEAL, which targets a clear gap in the Swiss banking market. We see great opportunities for YAPEAL’s world-class management team to scale the company’s offering via partnerships in the Swiss and broader European market”,
says Balazs Klemm, blufolio founding partner.
James Dougall, blufolio founding partner, describes how YAPEAL fits into blufolio’s investment philosophy:
“Switzerland and Fintech are blufolio’s absolute cornerstone investment themes. YAPEAL fits perfectly into both. We always look for a clearly defined target market and ability to execute, which must both be given, in addition to a strong blockchain-related product and tech stack. YAPEAL delivers on all fronts. We look forward to accompanying them on their growth path.”
Featured image credit: blufolio
