Luxembourg fintech Next Gate Tech is in the habit of hiring big-hitters. Latest recruit Eduardo Gramuglia, who took up post as chief revenue officer on 1 January 2022, talks about growing the business.
Eduardo Gramuglia moved to Luxembourg twenty-three years ago. Besides one short stint in the UK, he has laid down roots in the grand duchy, the deepest of which are found in the financial industry.
He previously worked for BNY Mellon, BBH, and State Street, for which he was country head. Yet he says there was little uprooting involved in his move to Next Gate Tech, a Luxembourg startup specialised in data harmonisation and oversight for investments funds. Joining as chief revenue officer three years after the firm was founded, Gramuglia was hired to “bring connectivity” and grow business revenue.
“Davide (Martucci, CEO) and Semin (Ibisevic, CTO) and the team have done great work in building the foundational clients and even transformational deals like the one with BNP,” he says.
Like a number of his peers who have left senior roles in financial institutions, Gramuglia has a strong conviction that the industry needs to evolve in terms of digital technology.
“We do it with the power of the cloud and our unique methodologies/IP.”
Eduardo Gramuglia, CRO for Next Gate Tech
“The traditional systems that have been serving very well up until now are not able to cope with what’s there for the future. And I’m not talking about blockchain,” he says, adding: “Yes, that will come. There are already very good projects there. But I think that right now there is technology that can be deployed and utilised immediately in the mainstream.”
The CRO firmly believes in the firm’s oversight tools for asset management and asset servicing community, in solving data issues facing industry players. “We do it with the power of the cloud and our unique methodologies/IP.” This oversight he says is critical as regulation and investor demand bring new complexity to the industry. But once the data is harmonised and standardised, it creates a “strong foundation into whatever else you need to do, whether it be oversight or asset management, to prove what you say to investors and regulators.”
As Next Gate Tech acquires new clients, Gramuglia says discussions are underway to open a second office, either in France or the UK. “We want to be closer to our clients, closer to our potential target base, but also closer to talent,” he says, adding: “We want tech people with a financial background, so that when they are coding a system and looking at a swap at a future in equity, they understand what the instrument is.” Next Gate Tech has some attractive deals in the pipeline, which they hope to close this year. Meanwhile, the team is making efforts to shorten the sales cycle by using technology from another startup to save time. Another plan this year will be to move the 30-strong team, currently split between Spaces and the Lhoft, onto a single site.
This article was first published in the Silicon Luxembourg magazine. Read the full digital version of the magazine on our website, here. You can also choose to receive a hard copy at the office or at home. Subscribe now.