Two Zurich-based companies have agreed to enter into a partnership together: Avaloq and Assetmax. Their plan is to bundle expertise and together develop new digital solutions for the banking sector, as detailed in a press release issued by Assetmax.
Within the framework of this agreement, Avaloq has acquired a stake in Assetmax via its venture capital arm Avaloq Ventures. According to information contained in the press release, the minority stake acquired in Assetmax represents the first ever investment by Avaloq Ventures. Avaloq established an affiliated venture capital company in order to drive forward the development of its new open banking platform Avaloq.one.
“We are very pleased to announce our partnership with Assetmax and we are looking forward to growing our fintech portfolio in the coming months through the Avaloq.one ecosystem”, comments Alexander Christen, Managing Partner at Avaloq Ventures, before adding: “We are aiming to identify and support digital leaders with the greatest growth potential”.