According to a statement on Tuesday, the Swiss-American fintech Light Frame raised $5.1 million in an oversubscribed seed funding round. The round was led by investor Fortino Ventures. Sidekick Partners, Tenity, Chamaeleon and AltaIR Capital also participated, along with existing backers such as Rogue Venture Partners, New Stack Ventures and Studio Alpha.

As early as May 2024, the company had secured $1.7 million in an initial funding round. Together with the new capital raise, the two announced financing rounds now total $6.8 million.

From project to first customer deployment

Behind Light Frame is former Alpian chief Schuyler Weiss, who co-founded the digital Swiss private bank and led it for around five years. He left the bank at the end of 2023 and, together with other former Alpian executives, founded the fintech Light Frame in early 2024.

At the time, Weiss told finews that he wanted to develop a new generation of banking technology that would be faster, more secure and more cost-effective than existing systems. Initial talks with potential customers were already under way, but there were still no concrete commitments.

Light Frame has since taken a step forward. According to the company, its technology is already being used by financial institutions in the Europe, Middle East and Africa (EMEA) region in live customer operations. However, the company does not name the institutions or provide specific details on the number of customers.

Artificial intelligence as a core component

Light Frame is developing a platform that connects core banking systems and portfolio management. The software is aimed in particular at private banks, asset managers, family offices and other wealth management providers.

The technology is based on a cloud architecture and is designed to integrate modularly into existing banking systems. Financial institutions can use it to replace individual components or deploy a completely new platform.

Artificial intelligence plays a central role. It is intended to automate complex processes, increase employee productivity and enable additional services.

The founding team

With the fresh capital, Light Frame plans to further develop the technology, build additional capacity for client implementation and expand sales. The initial focus is the EMEA region.

"Artificial intelligence is redefining what technology can do. To unlock that potential in wealth management, however, the right infrastructure is needed," explains Schuyler Weiss, co-founder and CEO of Light Frame.

In addition to Weiss, the founding team includes former Alpian COO and CIO Mathieu Clément as well as technology experts Philippe Kernevez and Gregory Bataille.

The company, founded in 2024, has offices in Lausanne and Newport in the US state of Rhode Island.