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HomeFinancial InstitutionsBLKB Continues To Expand Its FinTech Portfolio With Parashift!

BLKB Continues To Expand Its FinTech Portfolio With Parashift!

Basellandschaftliche Kantonalbank (BLKB) is stepping on the accelerator and taking another tech company on board. The largest bank in the Basel area is also pursuing big goals in the FinTech sector. The portfolio of participations and cooperations has been growing recently at a relatively high pace.

In July 2022, BLKB took a stake in FinTech Kaspar&, a startup for professional investment solutions and neo-banking background. At the end of 2021, the bankers from Baselland joined Swisspeers, a FinTech for SME financing, as strategic investors. In April 2021, BLKB surprised everyone by founding Radicant‘s green sustainability banking subsidiary. The startup positions itself as a “sustainable, collaborative and personal life companion that understands, plans, executes and controls all of its customers’ financial needs.” BLKB has already been involved with Robo advisor True Wealth, which automates investments and wealth management, since 2016.

Now BLKB has partnered with Parashift. The Swiss FinTech uses artificial intelligence to read hundreds of types of documents such as invoices, contracts, forms, bank statements, and others. The extracted and validated data can then be digitally processed.

BLKB has been working with Deep Tech’s solutions for several months and has now taken the positive experience further to become involved and cooperate more closely.

Parashift CEO Alain Veuve wants to use the new partnership to expand globally. To raise the necessary funds for further expansion, Parashift is planning the next round of financing, which will be open to national and international investors.

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