Swiss regtech startup Apiax announced that it has started operations in Germany and opened a subsidiary in Frankfurt to serve the market even better. The expansion follows its existing initiatives in the UK and Singapore.

Frankfurt-based venture firm Futury Regio Growth Fund, together with leading international investors, has invested an undisclosed sum into Apiax to further accelerate its growth plans.

The follow-up financing succeeds the first $6.6 million Series A funding round. All previous investors are also involved in the new financing round including XAnge, e.ventures, Peter Kurer, DIVentures, SICTIC, Zürcher Kantonalbank, and Tugboat.

With the establishment of a subsidiary in Frankfurt, the investment is said to create future-proof jobs and strengthen the financial center of Hesse.

Benjamin Krahmer, Managing Director of Futury said,

“The Apiax team combines technical expertise with regulatory know-how and entrepreneurial spirit.

 

Apiax has created an excellent basis for further growth with its existing clients, partnerships and projects. We look forward to working with the team and the founders.”

Nicolas Blanchard, Co-founder of Apiax, said:

“The German financial center is of strategic importance to us and we are convinced that it will become even more important in the future.

 

With Futury, we have found the perfect partner to further our expansion plans in Germany.”