The firm said that the funding will boost expansion overseas as well as its domestic Swiss business operations.

WealthArc, a Swiss fintech, announced late last week that it has secured more than $4 million in new funding. 

The firm said that it will use the money to bolster overseas growth and build its domestic Swiss business. WealtArc has clients in Zurich, Geneva, and Lugano among other Swiss locations, and has customers in Singapore, Dubai, and the UK. The company, which employs more than 40 professionals located in Zurich, Geneva, and in an R&D centre in Warsaw, has integrated more than 60 private banks from Switzerland, Singapore and the UK via properietory connections.  

“Wealth management anytime and anywhere is the future of the industry. We want to help family offices and private banks in their digital journey,” Chris Gogol, co-founder and CEO of WealthArc, said. “With the new funding, we are getting closer to executing our mission: becoming the most comprehensive wealth management information hub in Switzerland and beyond,” Gogol added.

One of the investors in WealthArt is RJ Management, a Geneva-based wealth management firm. 

“We met WealthArc in 2018 when conducting internal portfolio management system due diligence. The selection and successful integration of WealthArc into our operations led us to become a client, and subsequently an investor. It is the first time we’ve invested in a private company we discovered as a user,” Eric Roditi, partner at RJ Management, said.

WealthArc said that it would use the capital to continue developing its digital platform and value proposition, mainly in the fields of artificial intelligence, custodian data reconciliation, analytics, recruitment strategy, and new business opportunities. 

In November 2020, the firm launched an automatic trading offering as part of its software-as-a-service platform. Pictet, the Geneva-based private bank, will be the first to use the new module, called Trading via the FIX protocol. Also last November, it won a deal to serve Lugano-based firm Eleutheria Wealth. The move follows WealthArc's opening of a new branch in Geneva. 

Offered in the software-as-a-service model, WealthArc’s platform automates portfolio consolidation from various custodian banks, trading as well as compliance in areas such as client relationship management. Based in Zurich, the firm was founded in 2015. It partners with Microsoft and Microsoft