Luxembourg, July 18, 2022 – Cascade Lab S.A. just announced that it has successfully completed a €1 million funding round. This funding round will enable Cascade to serve an expanding and broadening client base.
Cascade Lab, a Luxembourg based Fintech/Regtech firm providing Administrative, Compliance and Governance solutions today announced the completion of a €1 million funding round. Cascade will use the funds to keep up with the fast growth of its clientele in Luxembourg and internationally, and develop the new features required by broader than expected client categories.
The funding round was oversubscribed and led by the Digital Tech Fund, a joint public-private seed fund managed by Expon Capital that supports ICT start-ups in Luxembourg, with participation from LBAN, Luxembourg’s business angels’ network, and Project Rise, a Luxembourg Investment Initiative providing mentorship, alongside funding, to entrepreneurs. Additional investors in the round included several key industry players.
Cascade’s mission is to help small and medium size teams and companies from or linked to the Financial Sector to digitize client related data, automate numerous day-to-day activities and most importantly ensure regulatory protection, thanks to a well-designed and complete AML/KYC and Compliance framework. It replaces dozens of excel files and expensive external applications used by operational teams, thus ensuring better control from team management point of view.
Since its inception, Cascade has won several prestigious awards – Young ICT Revelation Company of the Year 2021, APSI Start-Up Award 2020 – and joined sought-after acceleration programs – Fit4Start #11 (2021), EYnovation by EY (2021).
“Cascade’s team is extremely good at execution and solves real pain points faced by customers. We are convinced that its solution is addressing an attractive market opportunity and excited to support the founders throughout the journey”, said Lily Wang, Principal, Expon Capital.
“We had the chance to meet the team during the Fit4Start program and were amazed at what they had built. We are excited to back this round and to support the team in becoming a major player in their target market”, stated Romain Hoffmann, Head of Investment, LBAN.
“Maciej and Declan have managed to convince us right from the start. It’s amazing what they have built so far, and we are looking forward to helping them make Cascade a huge success”, commented Thibault Britz from Project Rise and founder at Sedai.lu.
“This fund raising will allow us to increase our team and not just enhance the existing solution, but to bring new products, making the whole offering more complete’’, said Maciej Waloszyk and Declan O’hAnnrachain, co-founders & Managing Partners at Cascade.
For further information, please visit www.cascade.lu
Picture caption: Declan OhAnnrachain & Maciej Waloszyk, co-founders & Managing Partners at Cascade (from left to right)
Founded in 2019, Cascade is one of the fastest growing startups in Luxembourg serving an increasing number of clients internationally.
Cascade is being used by wide range of clients including Manco’s, AIFMs, Corporate Administrators, Law Firms, Consulting firms, PE&VC Funds, Real Estate Groups and Independent Directors amongst others.
Cascade’s founders have a broad experience in running Regulated SME’s and proven expertise in Governance and Operations including Transfer Agency, Fund Accounting and Domiciliary matters.
LBAN is a network of angel investors unlocking the potential of private investors and helping startup entrepreneurs to thrive, in Luxembourg and beyond. Our mission is to provide quality investment opportunities to our members and to equip them with appropriate investment tools. With close links to the entrepreneurial community in Luxembourg as well with the government, we ensure that the requirements of the early-stage investor community are heard and acted upon.
About Digital Tech Fund
Expon Capital manages an early-stage fund and a pan-European growth-stage fund. The early-stage fund, Digital Tech Fund is supporting ambitious entrepreneurs with international ambitions which are coming from the Luxembourg start-up ecosystem. The investment strategy focuses on early-stage, digital technological companies with commitment to develop substantial activities in Luxembourg.
About Project Rise
Driven by the taste for entrepreneurial adventures and with 40 years of combined experience in building successful tech startups, Project Rise want to share the expertise and support the entrepreneurs of tomorrow as the partners they want to side with, to take their business to the next level.