Wecan Group offers the first blockchain infrastructure enabling banks to manage their customers’ compliance. The group offers a solution for the secure storage and exchange of structured data and documents between organisations and individuals.
After raising CHF 1.6 million for its digital vaults earlier in 2022, the series B financing round of the Geneva-based leader in compliance software for private banks reaches a total of CHF 3.3 million raised.
Intended to support its expansion in Switzerland and internationally as it opens up new markets, this latest financing reiterates the interest and confidence of well-informed investors who are keen to support Wecan Group in its growth.
The new funds will allow the acceleration of Wecan’s projects, such as Wecan Comply, already used by 13 banks and more than 70 external asset managers in only 10 months.
Investing in innovative, digital and privacy-friendly companies
“The arrival of Michel Reybier, as a seasoned and visionary investor, will allow us to benefit from his expertise in order to diversify our products towards the hotel, medical, wine and real estate industries,” says Vincent Pignon, founder and CEO of Wecan Group SA. “Together, we share strong beliefs in the potential for large-scale development of our product, providing our customers with a service of excellence and compliance.”
Michel Reybier is the founder and owner of the hotel group La Réserve and co-founder and shareholder of Mama Shelter Hotels and MOB Hotels. He is also a majority shareholder of Aevis Victoria SA, which owns the Victoria-Jungfrau Collection. Finally, Michel Reybier is present in the health sector with numerous investments in private clinics in Switzerland.
“This investment is in line with my strategy of investing in innovative, digital and privacy-friendly companies. Wecan Group has already proven itself in Switzerland with private banks and we believe in the potential for development in other industries such as the hotel industry,” concludes Michel Reybier.