Avaloq Acquires 10% Stake in Cryptocurrency Specialist Metaco

Francisco Fernandez, Chairman of Avaloq
Francisco Fernandez, Chairman of Avaloq

Avaloq, the Swiss-based fintech group of integrated and comprehensive banking solutions, has acquired a 10% stake in Metaco, a blockchain and crypto-currency specialist based in Lausanne, in its second round of funding.


Metaco has also raised capital from other strategic shareholders including Swisscom, Swiss Post, and SICPA.


Metaco was founded in 2014 and helps financial institutions explore the latest blockchain technologies and systems by providing high-grade cryptographic solutions that can be fully integrated into a bank’s core processes, as well as highly secure custody solutions for cryptocurrency assets.


Others’ blockchain management and advisory services are usually not integrated into digital banking channels and rely on third parties or high-risk manual systems that are expensive, inefficient and insecure.


By acquiring the 10% stake in Metaco, Avaloq will be able to enhance its own expertise and solutions with regards to blockchain technology. The acquisition will see Avaloq’s founder and Group Chairman Francisco Fernandez join Metaco’s Board of Directors. There will be no organizational changes within Metaco or Avaloq but there will be close cooperation going forward.


Blockchain technology offers outstanding solutions in the field of the distributed ledger, cryptocurrencies, and digital assets, according to Francisco Fernandez, Chairman of Avaloq.


“We believe the world is heading towards accelerated digitalization of further asset classes and processes. In just four years Metaco has developed into a fast-growth provider of cutting edge technologies at the heart of the blockchain industry. It is a fantastic opportunity for Avaloq and I greatly look forward to working closely with the Metaco team”, said Fernandez.


Adrien Treccani, Founder and Chief Executive Officer of Metaco
Adrien Treccani, Founder and Chief Executive Officer of Metaco

Adrien Treccani, Founder and Chief Executive Officer of Metaco, commented:


“The enormous potential of distributed ledgers and digital assets in the banking industry has remained largely unexploited due to the lack of integrated solutions and the radically innovative nature of such systems. Therefore, I am extremely excited to be connected to the Avaloq Community even closer. Avaloq and the other new shareholders will allow us to specialize even further and accelerate growth in the banking sector. I look forward to the interaction with Francisco Fernandez and the Avaloq team.”


The financial terms of the deal were not disclosed.


Last year, Warburg Pincus has acquired approximately 35 percent of Avaloq from existing shareholders, valuing the company in excess of CHF 1 billion.