YAPEAL raised Venture Capital from Blockchain Fund Blufolio



The Zurich based YAPEAL wants to enable the 'Paycheck-to-Paycheck' customers to achieve their financial goals via its blockchain-inspired digital banking platform. The startup has received fresh capital from the Blufolio. The undisclosed funds will be used to build the platform.



Founded in 2018 by a team finance and technology professionals, YAPEAL is developing a blockchain-inspired digital-to-the-core and cloud-native banking platform for the Swiss Retail banking market – specifically targeting ‘paycheck to paycheck’ customers using most or all of their monthly income to cover their monthly expenses -- with no money left over and no money in savings.. The platform, enabled through a fair, transparent subscription model and a convenient mobile app, should empower customers to achieve their financial goals and a sustainable lifestyle. Based on behavioural data and Artificial Intelligence, YAPEAL records and analyses all transactions made from customers’ account with which they regularly spend, transfer or receive money to derive recommendations for action. The user may also request push messages on their smartphone informing them about their balance. While the platform is still in under development, YAPEAL has attracted the Geneva based blockchain investment firm, Blufolio to invest in the company’s growth. According to Andy Waar, Co-Founder and CMO of YAPEAL, the platform will go live by the end of 2019 as the company awaits its Fintech license and prepares for further steps. Hans Kuhn, Board Chairman of YAPEAL and former chief lawyer of the Swiss National Bank (SNB), is very familiar with financial market law and he’s convinced of the targeting model: “Traditional - private - banks seek billionaires, some are looking for millionaires - with much less enthusiasm. Most probably not the typical recommendations of a business consultants, but we want to help those people to become financially healthier who live from month to month. This by the way does also include people that earn a lot – they have a higher burning rate and face similar issues end of the month.” For Blufolio, YAPEAL is the first blockchain portfolio company receiving an investment. Balazs Klemm, blufolio founding partner comments:  “We are delighted to support the growth of Yapeal, which targets a clear gap in the Swiss banking market. We see great opportunities for Yapeal’s world-class management team to scale the company’s offering via partnerships in the Swiss and broader European market including B2B offerings.” (Press release / ran)