14.07.2022 IT Farvest Decrypt Luxembourg

The LHoFT, a unique catalyst of innovation

Interest and investment in FinTech startups have skyrocketed over the past few years. Ideally based in the European leading financial centre, the Luxembourg House of Financial Technology (LHoFT) has been connecting, engaging with and creating value for the FinTech ecosystem for five years – undoubtedly a unique catalyst of innovation and business growth for many entrepreneurs.

Bridging the gap between blockchain and finance

With the booming of blockchain technology, investors in digital securities increasingly need solutions to automate processes, enforce compliance and improve asset liquidity – and this is exactly what startup Tokeny provides.

From day one, the LHoFT has been supporting its CEO Luc Falempin through his entrepreneurial journey so he could meet his innovation goals, as well as access the right people and resources – like the global tech conference ICT Spring, where he could run a workshop, and meet renowned FinTech players and potential investors. Thanks to these unique connections, Luc and his team could raise more than 10 million euros over time, develop new projects and eventually become the European leader in delivering a secure end–to-end platform for digital securities’ issuance and management.

As Luc reminded last Friday during the LHoFT’s 5th anniversary, the foundation has given him more support than he could ever expect – enabling him to transform ideas into a fully operational business, and turning challenges into opportunities.

Shaping the future of FundTech

When banks and financial services organisations have to set up entire infrastructures for their asset managers from scratch, the back-office side may be very complex and highly time-consuming, particularly in terms of data management and analytics. Hence the urgent need for innovative solutions.

Willing to enhance the fund industry technology in Luxembourg and stay on top of trends, the LHoFT was pleased to house Next Gate Tech in 2019 – a FinTech startup which provides a smart oversight platform to help industry players manage middle and back-office processes.

Like Tokeny, this young and promising startup has also benefited from the LHoFT’s full support and large network since its inception. A few weeks ago, its CTO & Co-Founder Semin Ibisevic, Head of Production Alastair Woodward and Chief Revenue Officer Eduardo Gramuglia ran a workshop on “unleashing cloud computing power on data analytics” at ICT Spring, alongside an expert from Google – the ideal opportunity to network with FinTech players from all over the world.

Luxembourg FinTech players are in full swing

At the LHoFT 5th anniversary last Friday, Luxembourg Minister of FinanceYuriko Backes reminded the LHoFT’s key role in supporting the FinTech community. Thanks to a unique private/public partnership, the foundation not only enables young startups to take off and meet their innovation goals, but also strengthen the image of Luxembourg as a catalyst of innovation and business growth on the international stage.

Over the past five years, the LHoFT has successfully housed 146 FinTech firms – specialising in payments, big data & AI, insurtech, cybersecurity & authentication, fundtech & investments, regtech, lending and blockchain – and raised over €1 billion in funding.

The Ministry of Finance will continue supporting “the beating heart of the Luxembourg FinTech community” [LHoFT] in the coming years, particularly to attract new talents, foster diversity and a green transition, seize new opportunities in an evolving regulatory landscape, as well as develop mutualized solutions to address current and future challenges.