After two weeks of supporting the 10 best fintechs from over 140 applications, the jury of LHoFT’s fintech accelerator selected the five best laureates who will receive grants of up to €50,000 from the ministry of economy.
The fourth edition of LHoFT’s respected programme has selected its next fintech flagbearers. Supported by the ministry of economy, the programme has helped 10 hopeful fintechs over two weeks by developing their business models, helping them scale and manage risk as well as connecting them to the local ecosystem.
After two weeks, the 10 teams were put to the test as they pitched in front of a jury, prospective investors and audience members. The five laureates were selected on the basis of their pitches and the services they can deliver to financial institutions with a particular focus on Insurtech, Regtech, Fundtech, Cryptocurrencies and Digital Assets, B2C payments, Cybersecurity and Sustainability.
This year’s winners are Invoport, Regtech Datahub, Pelt8, Byrssa and Omnio.
“I am pleased to see once again such broad interest in the Catapult: Kickstarter program which has attracted start-ups from all over Europe and connected them to local financial services and start-up ecosystems,” said Franz Fayot, minister of economy, adding: “These young companies are welcome additions to our start-up ecosystem with solutions in areas such as sustainable finance, RegTech, data analytics and Blockchain.”
Aiming to further catalyse fintech innovation in Luxembourg and beyond, it is encouraging to see the continued enthusiasm and growth of the CATAPULT: Kickstarter programme. As mentioned Nasir Zubairi, CEO of the LHoFT, they felt like all participating startups “could provide significant value to the Luxembourg Financial Services centre,” putting Luxembourg in the privileged position of having the pick of the litter.
After the successful completion of the programme, which sees the fintech learn from ecosystem partners such as Luxembourg For Finance (LFF), Société Générale, and MiddleGame Ventures (MGV), the laureates are required to register their business in Luxembourg if they want to be eligible for their grant.
A brief overview of the 5 laureates:
Luxembourg – Invoport helps the fund administrators digitally process the fund operations to increase productivity and quality in addition to providing the investors with an online portal to monitor the fund performance. It is composed of (1) a cloud computing expert software where users can accomplish the fund’s operations via its online platform and (2) an interface for the investors where they receive the information shared by the fund such as capital call, distributions, and reports.
Denmark – To replace existing market data vendor for all MiFID II/MiFIR reporting needs, RegTech Datahub supply the customer with all instrument static data necessary to comply with the many different reporting requirements under MiFID II/MiFIR, i.e. – Pre & post trade transparency reporting – Transaction reporting – Best execution reporting – Cost reporting (running + annual) – Loss reporting – SI calculations/surveillance – ISIN Look-up/ ISIN creation.
Switzerland – Pelt8 is a B2B SaaS and suite of APIs powering the sustainability ecosystem by turning complex disclosures into clean data. We make it easy for small to large companies to deal with their growing disclosure requirements through our automated reporting while providing them with the processes and controls to do it in a clean and auditable way. Selected data points can then be shared with various stakeholders from system to system through machine readable formats.
Czech Republic – BYRSSA is a trusted European digital execution platform for SAFE based seed funding and Security Token Offering. Byrssa is the first European licensed equity crowdfunding platform based on standard SAFE contract for seed and on STO for priced funding. Byrssa’s mission is to simplify, accelerate and disintermediate the early stage start-up fundraising process.
Bulgaria – OMNIO is a multi-platform solution that detects suspicious activity, generates assessments and recommends a course of action for your cases. It significantly reduces the risk of failure, resulting in less time spent on compliance and no additional costs for additional staff, external advisors, or regulatory fines. Designed for businesses of all sizes, it is a cloud-based/ on-premise solution that lets employees manage compliance, monitor transactions, detect frauds, assess risks, and more.
