JP Morgan Private Bank has invested in two FinTechs in Switzerland.
In Brief:
JP Morgan Private Bank has made investments in two Swiss FinTechs that provide software for wealth management.
Edge Laboratories uses technology to provide customers with unique content and capabilities to offer appropriate investments to their clients.
Evooq provides tech solution for the entire wealth advisory service from onboarding to portfolio management.
What does this mean?
JP Morgan has said both the investments are “strategic” but has not specified the figure it’s invested in either company. Cedric Ullmo, CEO of both companies, says that they have gained capital at a “critical stage of growth”.
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