Light Frame, Ltd. secures $1.7 million of pre-seed funding to launch the next generation of Private Banking and Wealth Management technology
PROVIDENCE, R.I., May 29, 2024 /PRNewswire/ -- Light Frame, a pioneering Swiss-American FinTech company headquartered in Providence, R.I., today announced the successful oversubscription and completion of its Pre-Seed financing round, raising $1.7 million.
Launched by the founding executives of Alpian, Switzerland's first digital private bank, Light Frame is developing a proprietary technology platform designed to deliver unprecedented levels of autonomy, capability, and intelligence within the operations of Private Banks and Wealth Management firms. This funding round marks a significant milestone in the company's journey, providing the necessary resources to accelerate its innovation and growth.
"Current technologies within the Financial Services industry are generations behind the modern standard, restraining banks in their capacity to innovate and drive efficiency," said Mathieu Clement, President of Light Frame. "Light Frame is building the next generation of Wealth technology, a technology that will enable our client banks to fundamentally rethink and improve how they operate."
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 Rogue Venture Partners, Half Court Ventures, Underdog Labs, and Studio Alpha.
"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. "This funding will enable us to grow our team both in Rhode Island and abroad, further engage with the Private Banks and Wealth Managers looking to seize this opportunity, and facilitate the launch of our product within the market in 2025."
Light Frame opened its American headquarters at the Cambridge Innovation Center (CIC) in downtown Providence in early 2024, joining dozens of other nationally leading, tech-focused startups working out of CIC's fast-growing hub. Light Frame also has an office in one of Switzerland's leading entrepreneurial cities, Lausanne.
About Light Frame
Light Frame is a Swiss-American Financial Technology company headquartered in the Cambridge Innovation Center in Providence, R.I., USA. The company was founded 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.
Learn more at www.LightFrame.tech.
SOURCE Light Frame
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