In April 2017 the Luxembourg House of Financial Technology was officially registered as the Foundation of Luxembourg. A foundation that is the result of a public-private partnership and was created to “integrate knowledge and access within the financial services community in Luxembourg, and to help ensure future competition at the center through digitalization”.
First housed in the House of Entrepreneurship, it moved on March 31 to its current location at 9 rue du Laboratoire in Luxembourg City with 10 companies in its luggage. And by July 13, 2020 these areas will be fully occupied, with almost 86 companies.
The guest of honor, Yuriko Backes, Minister of Finance, said: “Over the past 5 years, LHoFT has become the heart of the Luxembourg Fintech community, connecting the financial center of innovation. We now have a strong presence. foundation to take LHoFT to the next level and support the rapid digital transformation of the financial services industry.In the coming months and years, LHoFT, as a private-public partnership, will be an important tool to help we attract and develop new talent in Luxembourg and connect fintech to sustainable finance.This will help our financial sector capture new opportunities in a changing regulatory landscape and support the development of shared solutions to meet current and future challenges.
Education as a priority for the next 5 years
The future of Lhoft, Nasir Zubairi the CEO since its creation speaks to this: “in the future, Lhoft wants to use its experience and its understanding of the needs of the Luxembourg community to better focus on some important issues. features: l education, knowledge and talent.Through an increasingly popular online channel, LHoFT will provide market-driven content to help the community stay on top of trends and learn about new technologies and strategies .LHoFT will also continue to support programs for young adults, teenagers and school children to expose the next generation to the ever-changing technological environment.The connection to universities across Europe be strengthened and students will be exposed to Luxembourg’s exciting financial and fintech ecosystem to channel much-needed talent into Gr and Duchy.
Lhoft is also working to implement a shared public service-centered strategy for Luxembourg’s financial center, with the aim of developing areas with a competitive advantage while helping to overcome key challenges for in financial institutions.
A billion funds raised
Currently, Lhoft has 84 resident firms and 86 affiliated firms and 250 supported firms since 2017, including 146 proprietorships. Companies that employ 5,000 people. Lhoft has more than a billion euros in funds raised by members and residents. Where 400 million is directly thanks to Lhoft’s connections with private and public capital sources.
The Luxembourg House of Financial Technology has also contributed to the promotion and visibility of the Place. He claimed more than 1,000 press articles, “20% of them from international media, such as Forbes and the FT”; 22,000 followers on various channels; 34 international partnerships – including the pan -European Fintech network – The Talent Route, of which Lhoft is a founding member -, the representation of the Grand Duchy at more than 125 international events or the launch of the Luxembourg Blockchain Lab and Fin5Labs – a common due diligence platform diligence.
Lhoft has also launched Catapult: Financial Inclusion Africa – a development program for African Fintechs managed by the Luxembourg Development Cooperation – and Catapult: Kickstarter – a start -up program that includes 20 Fintechs from 11 country, in two programs.