Appway, a Zurich, Switzerland-based global provider of business process automation software focused on customer onboarding and customer lifecycle management for financial institutions, received a $37m minority investment from global growth equity firm Summit Partners.
In conjunction with the funding, Steffan Peyer, a Principal at Summit Partners, will join the Appway Board of Directors along with Dr. Matthias Allgaier, a Managing Director at Summit Partners.
This deal represents Appway’s first external capital raise. It will enable the company to further expand its product portfolio and accelerate international growth in core markets around the world, including Europe, the APAC region and focusing on North America.
Led by Hans Peter Wolf, founder and CEO, Appway provides a software platform designed to support the digital transformation of customer-focused organizations across the financial services industry. Ten out of 25 of the largest wealth managers in the world use its software suite to aid the digitization, automation and acceleration of core business processes, such as the onboarding of new clients, managing changing client circumstances and regulatory reviews. Institutions including Credit Suisse, HSBC, J.P. Morgan, LGT, LPL Financial and Deutsche Bank, use it to improve customer experience and boost internal efficiencies while maintaining compliance with complex industry regulations.