The Swiss regtech already has customers in Germany and now wants to grow rapidly in this market. The company has now opened a branch office in Frankfurt am Main, Apiax announced Wednesday.

For its next steps, Apiax has raised fresh money, including from the Frankfurt-based Futury Regio Growth fund. All previous investors also participated in the new funding round. They include Xange, E.ventures, Diventures, Sictic, Zuercher Kantonalbank, Tugboat and former UBS Chairman Peter Kurer.

The expansion follows on from existing initiatives in the U.K. and Singapore, Apiax added.