As part of Delano’s look at the regtech sector in the September/October edition, 18 Luxembourg startups answered questions about their business. 

What would you like to report about your company one year from now? Nadi Solutions is ideally placed in the Luxembourg ecosystem. By definition, our product nadi is part of the regtech universe. Increasing levels of regulation, combined with a greater focus on data and reporting standards, are the perfect conditions for nadi nadi to flourish. In one year from now we envision having acquired a major actor as one of our clients which will propel the company to the main stage.

Number of customers/users: Our solution currently serves 500 funds in Luxembourg, Belgium and Liechtenstein.

Key partnerships: Nadi Solutions has been a partner with the University of Luxembourg for several years, and we work on collaborative research projects in the IT field.

Regulatory solution(s): “The frequency and quantity of documents and reports to be produced, requires the actors of the fund industry to collect, organise, treat and encode an impressive amount of data. The calculations performed with this data add further levels of complexity. If you add the final challenge of designing an appealing and clear document to read and ensuring its consistency. it becomes an onerous and potentially very costly process for all parties. nadi, our innovative application, puts control in the hands of the users. Flexible and customisable, all without the need for IT intervention, the system can produce reports quickly and consistently, allowing the users to concentrate on value-added tasks instead of the mechanics of manipulating data and documents.

Total number of employees: 16

Accelerator or incubator: From 2014 until 2017 Nadi Solutions was part of the PwC Accelerator in Cloche d’Or.

Funding/backers: Self-funded

The “aha, Eureka!” moment that led to the company being started: When several former colleagues who had focused their career in fund financial and legal reporting met together, they immediately agreed that an application to simplify the complex and lengthy processes of production and review was needed in the industry, and they started brainstorming about the tool they would really like to have. A few months later, nadi took shape and rapidly began to challenge the existing providers in the sector. We always think of nadi as the application we would have dreamt of having when we were producing reports ourselves or overseeing operational teams. This is what makes it such a perfect fit for our users.

Founder/leader: Bertil Rouveure (former co-owner of Multifonds)

Founded: 2013, in Luxembourg

Read the full article here: 18 regtech firms surveyed by DELANO