Appway has raised fresh capital following an investment in the amount of 37 million US dollars from Summit Partners, as detailed in a press release. The Zurich-based start-up develops software for financial service providers aimed at automating and optimizing working processes. There is also a focus on client relationships and supporting clients in complying with regulations.
Appway intends to use this fresh capital to drive forward international growth and expand its product portfolio. Appway software is already being used by leading financial institutes such as HSBC, JP Morgan, Deutsche Bank and Credit Suisse.
“Unlike general purpose low-code development platforms, Appway seeks to address core pain points in the financial services industry by automating the flow of work to revolutionize the customer experience and drive digital transformation across organizations”, comments Matthias Allgaier, Managing Director at Summit Partners, in the press release. Allgaier is now set to join the Board of Directors at Appway.
Appway was founded in 2003 and is headquartered in Zurich. The company also maintains a presence in New York, Hong Kong, Singapore, London, Toronto in addition to Ticino and Geneva.