Swiss fintech Yapeal unveils new CEO alongside fresh capital boost
Swiss fintech Yapeal has appointed Michael Eidel, former managing director at Credit Suisse, as its new CEO following the completion of a fresh financing round.
Yapeal names new CEO after closing latest funding round
Eidel succeeds Thomas Hilgendorff, who co-founded Yapeal in 2018 and has served as CEO since 2019. Hilgendorff will transition to the role of chief commercial officer (CCO) at the company to focus on “commercial business development and the expansion of strategic partnerships”.
As CEO, Eidel says he will drive the company’s focus on “the growing market for embedded finance solutions tailored to corporate customers and their end customers”.
Headquartered in Zürich, Yapeal currently offers a range of app-based account services and embedded finance solutions to businesses and consumers throughout Europe. The company is noted for being one of the first in Switzerland to secure a fintech licence with the Swiss Financial Market Supervisory Authority in 2020.
A prolific fintech advisor, Eidel’s career history to date includes managerial positions at Raiffeisen Switzerland, Credit Suisse and Commonwealth Bank, while he is also credited with advancing retail payment capabilities in Australia as the former director of the country’s New Payments Platform (NPP), which launched in 2018.
Yapeal says its latest appointment coincides with “the successful completion of a financing round”, which attracted both new and existing investors, including ERP provider Abacus, which has backed the company since 2021.
Markus Granziol, Dominik Bollier and Christoph Burkhard have been unveiled as the fintech’s new anchor investors, with the latter two also set to join Yapeal’s board of directors.
