Yapeal appoints Michael Eidel as new CEO and successfully secures fresh capital

Zurich, September 2, 2024 - Swiss Fintech company Yapeal has appointed Michael Eidel as the new Chief Executive Officer. Michael Eidel brings extensive international experience from leadership positions in financial institutions and technology companies. At the same time, the company announced the successful completion of a financing round, attracting new investors and strengthening the board of directors. With the increase in capital, Yapeal can advance its strategic realignment and growth phase with full force.

Yapeal announced today the appointment of Michael Eidel as the new CEO. He brings extensive experience from listed financial institutions and technology companies. Most recently, he served as CEO at a financial technology company in Australia, where he drove the strategic repositioning and expansion of the company and successfully introduced an innovative technology platform for corporate clients to the market. Other positions in his career included leadership roles in commercial banks and board mandates at FinTechs in Australia and Switzerland. Michael Eidel already played a role in shaping Yapeal's strategic realignment over the past year. 

Michael Eidel succeeds Thomas Hilgendorff, one of the co-founders of Yapeal, who will continue to serve as Chief Commercial Officer in the company. In this role, Thomas Hilgendorff will focus on commercial business development and the expansion of strategic partnerships.

said Werner Vontobel, Chairman of the Board of Yapeal. "With his extensive international experience in the financial and technology sectors, he will play a crucial role in driving forward our strategic realignment and future growth of Yapeal." 

said Michael Eidel on his appointment. "Together, we will focus consistently on the growing market for Embedded Finance solutions tailored to corporate customers and their end customers. The strategic alignment based on Yapeal's unique Digital-First platform will enable us to accelerate our growth and take a leading role in the Swiss Embedded Finance market in the medium term."

At the same time, the company announced the successful completion of a financing round with existing and new investors. This enables Yapeal to consistently implement its strategic realignment and focused growth strategy in the rapidly growing market for Embedded Finance solutions for corporate customers and their end customers.  

Existing strategic investor and ERP provider Abacus reinvested in the financing round. "Abacus has already significantly benefited from Yapeal's strategic focus on Embedded Finance solutions for corporate customers over the past year and is convinced of the potential of their Digital First platform. Through continued close collaboration with Yapeal, we aim to enable our customers to benefit from the latest innovations in automated accounting and significantly increase their efficiency", said Claudio Hintermann, CEO of Abacus.

Dominik Bollier, Christoph Burkhard, and Markus Granziol have joined as new anchor investors. Dominik Bollier and Christoph Burkhard were also elected to the board of directors of Yapeal.

Yapeal is a Swiss Fintech company founded in 2018 with the first Fintech license in Switzerland. With its unique Digital First platform, Yapeal offers seamlessly integrated financial services (Embedded Finance Solutions) to companies and their end customers. These solutions enable companies to generate more revenue with the same customers, improve the customer experience, increase efficiency, and boost profitability. Yapeal is headquartered in Zurich. 

Press contact: pr-media@yapeal.ch