Light Frame Disrupts the Financial Industry with $1.7M Pre-Seed Funding
May 31, 2024, 3:37 pm
In a groundbreaking move, Light Frame, a private banking and wealth management technology company based in Providence, RI, has secured $1.7 million in Pre-Seed funding. This funding round, led by ATX Venture Partners and New Stack Ventures, with participation from Rogue Venture Partners, Half Court Ventures, Underdog Labs, and Studio Alpha, marks a significant milestone for the company.
Founded in January 2024 by industry veterans Schuyler Weiss, Mathieu Clement, Philippe Kernevez, and Gregory Bataille, Light Frame is on a mission to revolutionize the financial services industry. With a focus on innovation and growth, the company is developing a proprietary technology platform that promises enhanced levels of autonomy, capability, and intelligence within the operations of Private Banks and Wealth Management firms.
The company's American headquarters, located at the Cambridge Innovation Center (CIC) in downtown Providence, serves as a hub for tech-focused startups. Additionally, Light Frame has an office in Lausanne, Switzerland, further solidifying its presence in the global financial landscape.
Speaking about the funding round, Mathieu Clement, President of Light Frame, emphasized the importance of modernizing technology within the financial services industry. He stated, "Current technologies within the Financial Services industry are generations behind the modern standard, restraining banks in their capacity to innovate and drive efficiency. Light Frame is building the next generation of Wealth technology, a technology that will enable our client banks to fundamentally rethink and improve how they operate."
CEO Schuyler Weiss echoed Clement's sentiments, highlighting the transformative potential of modern technology for banks. He expressed, "Modern technology represents the single biggest opportunity for banks to both materially expand their revenues and optimize their costs. This funding will enable us to grow our team both in Rhode Island and abroad, further engage with the Private Banks and Wealth Managers looking to seize this opportunity, and facilitate the launch of our product within the market in 2025."
With a strong team of industry experts and a clear vision for the future of financial technology, Light Frame is poised to make a lasting impact on the private banking and wealth management sector. As the company continues to innovate and grow, it is set to reshape the landscape of the financial industry, ushering in a new era of autonomy, capability, and intelligence in banking operations.
Founded in January 2024 by industry veterans Schuyler Weiss, Mathieu Clement, Philippe Kernevez, and Gregory Bataille, Light Frame is on a mission to revolutionize the financial services industry. With a focus on innovation and growth, the company is developing a proprietary technology platform that promises enhanced levels of autonomy, capability, and intelligence within the operations of Private Banks and Wealth Management firms.
The company's American headquarters, located at the Cambridge Innovation Center (CIC) in downtown Providence, serves as a hub for tech-focused startups. Additionally, Light Frame has an office in Lausanne, Switzerland, further solidifying its presence in the global financial landscape.
Speaking about the funding round, Mathieu Clement, President of Light Frame, emphasized the importance of modernizing technology within the financial services industry. He stated, "Current technologies within the Financial Services industry are generations behind the modern standard, restraining banks in their capacity to innovate and drive efficiency. Light Frame is building the next generation of Wealth technology, a technology that will enable our client banks to fundamentally rethink and improve how they operate."
CEO Schuyler Weiss echoed Clement's sentiments, highlighting the transformative potential of modern technology for banks. He expressed, "Modern technology represents the single biggest opportunity for banks to both materially expand their revenues and optimize their costs. This funding will enable us to grow our team both in Rhode Island and abroad, further engage with the Private Banks and Wealth Managers looking to seize this opportunity, and facilitate the launch of our product within the market in 2025."
With a strong team of industry experts and a clear vision for the future of financial technology, Light Frame is poised to make a lasting impact on the private banking and wealth management sector. As the company continues to innovate and grow, it is set to reshape the landscape of the financial industry, ushering in a new era of autonomy, capability, and intelligence in banking operations.