The country’s stock exchange acquired a 22.8% stake in the Fintech, with the aim of providing financial information and structured data to investors, regulators, etc. on fund instruments and green bonds.
The Luxembourg Stock Exchange (LuxSE), the historical stock exchange company, has stepped into the capital of Tetrao, a startup specialized in Internet intelligent process automation.
The ‘Old Lady’ has acquired 22.8% shares of the Luxembourg-based Fintech.
Tetrao provides automation services, among others on market study, business intelligence, data checking, data consolidation, and information system integration.
More specifically, its platform based on robotic cognitive technology also provides solutions to financial institutions and funds management companies on back-office processes, automated customer services, and on financial and legal documentations.
“Thanks to this success with LuxSE, and with this new financial base, we can continue to develop our R&D and expand into other markets.”
“Huge growth accelerator”
“This partnership is a huge growth accelerator for our startup,” says Christian Gillot, the founder and CEO of Tetrao. “We provide our innovation and expertise in artificial intelligence and LuxSE brings a significant marketing and sales force. This alliance will mark an important step towards for the financial center.”
In 2019, Tetrao launched an R&D program, aiming at providing information and analyzes on 89,000 fund instruments, to actors of the fund industry, including regulators, vendors, investors, insurers…
In September 2020, the Fintech partnered with Fundsquare, a 100%-owned subsidiary of LuxSE, on the project. The objective is to enlarge Fundsquare’s data scope on its fund investment products, and to create new features and services for its clients.
Since September 2020, both partners have been also collaborating on LGX DataHub, a data collection, structuration and management platform launched by LuxSE and dedicated to green bonds only. The tool helps fund managers in their decisions-making on a portefolio of more than 3,000 instruments.
Building on success
With its move into Tertrao’s capital, the Luxembourg Stock Exchange follows a strategy of Fintech acquisitions that started in 2019, with participations in Luxembourg-based StarTalers’ stake and in Origin’s, a London-based Fintech. In 2020, LuxSE further increased its investment in Origin.
Moroever, the institution is also one of the founding shareholders of FundsDLT, which completed its series A funding round in 2020.
Tetrao – which name derives Latin “tetrao”, an endangered species of bird – was launched in 2014, with the aim to develop task-automation robots for companies. Hosted in Foundry since Lux Future Lab closed its office space, the 25-people company operates in Spain and in Lorraine.
With the new capital, its founder intends to finance new R&D and innovation projects. “Our strategy is simple: we want to build on success,” insists Gillot. “Thanks to this success with LuxSE, and with this new financial base, we can continue to develop our R&D and expand into other markets.”
The startup is considering launching robots that collect business information, via websites, social networks, legal and business documentation, on behalf of financial and non-financial clients including national and supranational administrations.
