UBS enters a strategic partnership with fintech Numarics to help Swiss SMEs with their financial and administrative tasks.
To help small and medium-sized businesses in Switzerland, UBS enters into a strategic partnership with Swiss fintech Numarics, according to a statement (in German) from UBS today.
The fintech offers services to «Micropreneurs», start-ups, and SMEs including automatic payroll generation and document management, digitized and automated accounting solutions, and AI-generated forecasts, according to Numarics. UBS Next, UBS' venture and innovation unit, is also participating as an investor, but details of the transaction weren't disclosed.
UBS a Lead Investor
Numarics CEO and co-founder Kristian Kabashi said, «We are pleased to welcome UBS Next as our lead investor in this new funding round. Their financial expertise and support will enable us to expand our customer base and grow our business. In addition to this investment, our partnership with UBS will enable us to offer comprehensive financial and administrative solutions to reduce administrative headaches and help growing businesses across Switzerland.»
As one of its strategic priorities, UBS has been expanding its offerings for Swiss SMEs in recent years. The UBS Marketplace offers clients products and services from selected partner companies aimed at helping make the day-to-day business of SMEs easier. Numarics' digital services are also available there.
More than Traditional Banking
«The offerings are designed to go beyond traditional banking and help SMEs manage their day-to-day business efficiently,» said Alain Conte, head of Corporate & Institutional Clients Switzerland at UBS.
UBS partnerships with SME clients in mind include payment specialist Sumup and Bexio, another Swiss provider of digital accounting tools.
Numarics was founded in 2020 by Kabashi and Dominique Rey as a software-as-a-service (SaaS) provider. In January, Numarics announced a merger with A&O Kreston, expanding its footprint in German-speaking Switzerland. Numarics has a team of around 100 specialists in nine offices in Switzerland.
