With the renewed push for more of the services, Appway has announced a round of funding to expand its operations.
The Switzerland-based firm builds tools for financial services companies to interact better with their customers through the internet.
Appway, which provides software to help banks and other financial institutions build banking, mortgage, regulatory compliance and other service management tools, has raised $37m in equity funding from a single investor, Summit Partners.
Appway’s CEO, Hans Wolf, who founded the company with Oliver Brupbacher, said in an interview that the money would go into business expansion, by adding more customers and building more tools for those customers.
He added that North America ha been one of Appway’s fastest-growing markets, hence the plan would be to double operations in Europe and Asia.
The Zurich-based company has been quietly living, bootstrapped and profitable, behind the scenes and under the star-tup radar since 2003.
But in the last 17 years, it has managed to amass a long list of impressive customers – featuring 10 out of 25 of the largest wealth managers in the world, including Credit Suisse, HSBC, JP. Morgan, LGT, LPL Financial and Deutsche Bank.
