Light Frame, a pioneering Swiss-American FinTech company, has successfully completed its pre-seed financing round, raising $1.7m.
The funding round was co-led by ATX Venture Partners and New Stack Ventures, with additional investments from Rogue Venture Partners, Half Court Ventures, Underdog Labs, and Studio Alpha.
Founded in January 2024, Light Frame is headquartered in the Cambridge Innovation Center in Providence, Rhode Island, and has an office in Lausanne, Switzerland. The company was established by Schuyler Weiss, former CEO of Alpian, Mathieu Clement, former COO and CIO of Alpian, and leading technologists Philippe Kernevez and Gregory Bataille.
Light Frame is developing a proprietary technology platform aimed at delivering unprecedented levels of autonomy, capability, and intelligence within the operations of private banks and wealth management firms. This innovative platform seeks to modernise the financial services industry, which the company believes is currently hindered by outdated technology.
The $1.7m raised in this round will be used to accelerate the development of Light Frame’s technology, expand their team both in Rhode Island and internationally, and engage further with private banks and wealth managers. The company aims to launch its product in the market by 2025.
Mathieu Clement, president of Light Frame, said, “Current technologies within the Financial Services industry are generations behind the modern standard, restraining banks in their capacity to innovate and drive efficiency. 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.”
Schuyler Weiss, CEO of Light Frame, added, “Modern technology represents the single biggest opportunity for banks to both materially expand their revenues and optimize their costs.
“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.”
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