Evorest opens the first digital and invested rental deposit in Switzerland

Fintech Evorest went live with its new rental deposit solution in January of this year and has opened the first digitally invested deposit in Switzerland.

Zurich, 08.02.2024

A novelty in Switzerland: For the first time, Swiss tenants can invest their rental deposits in low-cost funds instead of parking their money in low-interest accounts. Tenants can choose between ten world-class ETFs from leading providers such as UBS and iShares from Blackrock. Similar to pillar 3a solutions, the tenants’ invested money should grow with the market and generate a return.

The investment also benefits property managers and property owners: the paid-in rental deposit is fully guaranteed by Evorest in any market situation. In rising markets, property owners even receive higher damage cover.

At the same time, Evorest is digitizing the entire customer journey for property managers and tenants. While property managers previously had to use paper forms, deposits can now be opened completely digitally in just a few steps. Thanks to the elimination of the postal route, Evorest saves all parties valuable time and enables deposits to be set up within just 24 hours.

Have realized the first digital and invested rental deposit in Switzerland: Felix Graule, Marc Schuster and Gianluca Cottiati from fintech start-up Evorest with Manu Spillmann from Hypothekarbank Lenzburg. (Image: David Scheppus)

For tenants opening their rental deposit with Evorest, a rental deposit account with an associated securities account is opened at Hypothekarbank Lenzburg AG in the tenant's name. The startup uses the innovative Open Banking API of the Finstar banking platform for this purpose. The bank manages the portfolio for the duration of the tenancy.

For tenants who do not wish to invest, Evorest also offers a conventional deposit account. The traditional rental deposit account is also managed by Hypothekarbank Lenzburg AG. As a regulated bank, Hypothekarbank Lenzburg AG is affiliated to the Esisuisse deposit protection scheme. This means that rental deposits of up to CHF 100’000 on accounts are protected against default

About Evorest
Evorest is a Zurich-based Fintech and Proptech founded in March 2023. The company is set out to digitize the end-to-end rental deposit process for property managers and tenants, while reviving locked-up capital. We make daily tasks more efficient for property managers and provide tenants with the opportunity to digitally invest their rental deposits in low-cost funds.

You can find more information on our website https://www.evorest.ch/ or send us an e-mail to info@evorest.ch