Julius Baer invests in Schwyz-based fintech
Nectar Financial has gained yet another prominent investor, this time in the form of Julius Baer after the Zurich-based private bank became a minority shareholder as part of a recent financing round. The founders and management team of Nectar Financial continue to own the controlling majority of the shares, according to a statement. Urs Wietlisbach, the co-founder of Partners Group, has been a minority shareholder since last autumn.
Nectar Financial supports asset managers, banks and family offices in the management of more than CHF 35 billion in client assets with its innovative technological solutions. In the first half of 2017, it launched its own Wealth Management Platform, an intelligent and self-learning platform that simplifies client relationship and portfolio management. The first clients are already working with this new solution.
Nectar Financial also announced that it is forming a new R&D unit called Nectar Digital Lab, which will bundle research efforts currently being carried out in cooperation with other leading fintech companies. In one project, a team of specialists are currently developing new solutions for the Wealth Management Platform using artificial intelligence and machine learning. The goal is to create tailor-made investment management.
Nectar Financial has more than 60 employees. In addition to its head office in Altendorf in the canton of Schwyz, it has offices in New York and Bratislava. Preparations are also underway to open an office in Hong Kong.