A Zurich-based start-up is looking to expand its data business into financial services. It is recruiting prominent Swiss bankers to do so.
Software firm Swiss Cyber Gate describes itself as a toolbox for anything to do with data: the five-year-old Swiss start-up launched a data transfer service that competes with WeTransfer, a Dutch provider, five years ago.
Swiss Cyber Gate, which counts Partners Group and technology firm Buehler among its clientele, wants to bolster its business in the financial services industry, founder Oli Kessler told finews.com. Specifically, the start-up is looking to develop a content collaboration platform with features like a digital version of a registered letter. The move is a homegrown bid to compete with industry giants like Microsoft and Citrix.
Bulking Up Management
To do so, Swiss Cyber Gate is expanding its current management – Kessler as well as former McKinsey consultant Thomas Ellenberger – by hiringReto Schwendimann as head of operations. Schwendimann was most recently head of application at network operator Swissgrid, and previously in technology at Sunrise, Avaloq, Swiss Life, and Swiss Re.
Swiss Cyber Gate is also getting two investors and board members in Christian Camenzind, the ex-CEO of Sal. Oppenheim's business in Zurich and currently a director of Credit Suisse's Swiss unit, and Ronald Sauser, a veteran mergers-and-acquisitions banker also previously with Sal. Oppenheim.
